Imran Khan: China truly supported us when we had hit the 'rock bottom'

On Monday, Prime Minister Imran Khan stated, China supported us "when we were right at the rock bottom."

Khan said that the circumstances "we found ourselves in thirteen months ago when we came into power" was probably the worst economic situation, during a discussion with Richard N. Haass, President of the Council on Foreign Relations.

"China truly supported us when we were right at the rock bottom. By providing us funds for our foreign reserves, they helped and backed us at that moment," he added.

The politician said that China had helped his nation to boost its federal reserves, along with Saudi Arabia and the United Arab Emirates.

Khan said "what China offers us right now is an opportunity," in response to how would Pakistan maintain its sovereignty while the cash strapped nation is allowing China to undertake large scale projects, such as the Belt and Road Initiative (BRI) and the China -Pakistan Economic Corridor (CPEC) 

"They (China) have a USD two trillion import market," he said.

"China has also given a preferential trade agreement whereby Pakistan can now export to China at the same terms as any other ASEAN countries. So this is a great opportunity," Khan added.

"Apart from that, we have this opportunity now to get the Chinese industries to relocate in Pakistan, bring in technology. So, China has given us a great opportunity to lift ourselves up from where we are right now," he said.

The International Monetary Fund (IMF) had last week extended a bailout package worth USD six billion to help Pakistan restore an inclusive and sustainable growth of its plunging economy.

( With inputs from ANI )