Pakistan reiterates commitment to provide foolproof security to Chinese nationals

ISLAMABAD: Pakistan’s Finance Minister Muhammad Aurangzeb this week reiterated Islamabad’s commitment to provide foolproof security to Chinese nationals, the Finance Division said, amid a surge in attacks on Chinese citizens in the South Asian country. 
Pakistani separatist and religiously motivated militants have mounted attacks on Chinese projects in the country in recent years. A suicide blast claimed by the separatist Balochistan Liberation Army (BLA) killed two Chinese nationals in Karachi this month, while five Chinese workers were killed in a suicide bombing in March in northwest Pakistan.
The attacks have forced Beijing, a major ally and investor in Pakistan, to call on Islamabad to ensure security for its citizens. Pakistan has sought to ease Chinese fears, vowing to provide fool-proof security to Chinese nationals working in the country.
On Saturday, Aurangzeb met China’s Vice Minister of Finance, Liao Min, during the 2024 annual meetings of the International Monetary Fund (IMF) and World Bank in Washington where both sides spoke on a range of issues, including economic cooperation and security for Chinese nationals. 
“Committed to providing foolproof security to Chinese workers,” the Finance Division said about Aurangzeb’s commitments to the Chinese official. “Shared that the majority of Chinese companies are interested in expanding their investments and increasing employment opportunities in Pakistan.”
The two officials also touched upon economic cooperation between Islamabad and Beijing, with the statement saying Pakistan aims to launch an inaugural Panda bond in the Chinese market to “diversify” its financing base.
A Panda bond issuance would be Pakistan’s first foray into China’s capital markets. 
Aurangzeb thanked the Chinese official for Beijing’s help in enabling Pakistan to secure a $7 billion bailout program this year, the Finance Division said. 
“Both sides emphasized the need for online payment settlements and integration of the two countries’ payment systems,” the statement added. 
Chinese economic assistance has been crucial for Pakistan in recent years, with Beijing pledging over $65 billion in investment in road, infrastructure and development projects under the China-Pakistan Economic Corridor (CPEC) project. 
CPEC is a part of the Belt and Road Initiative, a massive China-led infrastructure project that aims to stretch around the globe.