China, a controlled economy, won’t give Pakistan direct money, warns economist

Abid Suleri, a renowned economist, has said that China can’t give direct money to Pakistan but the country will have to identify some projects for Chinese investment. “Saudi Arabia is a kingdom and the kings can do what the kings do, they can give you a blank cheque,” the economist said. However, he said that China is a controlled economy and it won’t give Pakistan direct money. “They will invest through some projects, agreements or some economic instruments,” Suleri added. “China needs an economic instrument where they can put money.” Just a day earlier Prime Minister Imran Khan came back to Islamabad after concluding his first official visit to China. China will provide Pakistan economic aid but more talks will take place to sort out the details, a senior Chinese diplomat told Reuters, after PM Khan met Chinese Premier Li Keqiang on Saturday. Abid Suleri said that it was decided during PM Imran Khan’s visit to Beijing that Pakistan will identify some projects in the industry and agriculture sector. China could agree to provide Pakistan technology for projects or fund them, he added. Suleri said that Prime Minister Imran Khan didn’t go China to seek a loan. “The PTI used to criticize CEPC when it was in government so it was necessary to give a policy message that the new government is also serious about implementing CPEC like the previous government.”