Prime Minister Shehbaz Sharif on Wednesday highlighted bilateral engagement with China, saying that the recent programme with International Monetary Fund (IMF) “was not possible” without Beijing’s support.

Pakistan has held strong bilateral relations with China which has supported it through many investments and development projects such as the China-Pakistan Economic Corridor (CPEC), which was termed as a “lifeline” for the country’s economy.

Last month, China extended the repayment period of a $2 billion loan to Pakistan by one year, offering much-needed financial relief and helping stabilise the country’s foreign exchange reserves.

The government is working to strengthen its finances after securing a $7 billion IMF bailout in September 2024. Pakistan reached a staff-level agreement (SLA) with the global money lender in March after a successful review of first installment of the loan.

PM Shehbaz called China as the country’s “most sincere friend” at a ceremony in Islamabad regarding the government’s initiative for the capacity building of 1,000 graduates in the field of agriculture by sending them to China.

He reaffirmed the government’s commitment to transforming Pakistan’s agricultural sector, calling it essential for achieving sustainable economic growth.

He said that that strengthening the agricultural backbone of the country would help ensure food security, boost exports, and improve livelihoods for millions of farmers.

The premier highlighted the urgent need to revive and modernise the country’s agricultural research institutions.

“We must focus on meaningful farming practices, digitalised crop management, and the development of climate-resilient seeds,” he said.

Under the government’s initiative, 300 selected graduates the field of agriculture were being sent to China for a three-month training programme during the first phase. In the second phase, 400 graduates will undergo a six-month training programme, followed by the remaining 300 graduates who will participate in a three-month training programme in the final phase.

The prime minister congratulated the 300 young graduates, who will fly to China for training in agriculture techniques and equip themselves with knowledge. He hoped that upon their return back to Pakistan, they will contribute towards agricultural economy.

Speaking about his visit to China, PM Shehbaz said that he was inspired by the research work in various fields of agriculture sector at the Chinese universities. He said, “I decided then to send 1,000 young Pakistani agriculture graduates to benefit from this great experience.”

Chinese Ambassador Jiang Zaidong said that he was much inspired by the government’s performance during one year where the country’s macroeconomic indicators had improved significantly.

He said the Chinese government stood ready to cooperate with Pakistan in promoting bilateral relations especially in the agricultural sector.

He emphasised that China’s President Xi Jinping always attached great importance to their relationship with the neighbouring countries.

Under CPEC, China had made a direct investment of around US$35.4 billion, reflecting the strong relationship between the two countries, he added.