November 26, 2024
2 mins read

Will not ink any loan pact with China, says Nepal PM 

The Prime Minister addressed concerns about rumors of a debt trap, urging people not to be swayed by baseless speculation….reports Asian Lite News

Prime Minister KP Sharma Oli has emphasized that his upcoming official visit to China, starting December 2, will not include any agreements on loans. Speaking at a discussion with former prime ministers and foreign ministers, Oli clarified that the Belt and Road Initiative (BRI) is not a loan-related project and that decisions on loans or grants from any country will always be based on Nepal’s national interests. 

The Prime Minister addressed concerns about rumors of a debt trap, urging people not to be swayed by baseless speculation. “We will take loans or grants when necessary, prioritizing Nepal’s sovereignty, independence, and welfare,” he asserted. Oli highlighted Nepal’s long-standing friendship with China, stating that his visit aims to further strengthen this bond. He assured attendees that the visit would prioritize Nepal’s interests, emphasizing the importance of cooperation for economic development. 

Oli also noted that the visit would focus on implementing past agreements with China, expanding transmission lines, and enhancing trade by exporting Nepali products. He reaffirmed Nepal’s commitment to maintaining strong relations with both its neighbors, China and India, and stressed leveraging these ties for the country’s progress. “Our diplomatic engagements will not serve as a card against any country but will align with Nepal’s needs and decisions,” he said. 

Former Prime Minister Pushpa Kamal Dahal ‘Prachanda’ echoed the sentiment, recalling his own precedent of visiting China first during his tenure. He clarified that this was not intended to play the “China card” and advised Oli to avoid using external relations for domestic political purposes. Prachanda also stressed the need for effective implementation of previous agreements with China. 

Foreign Minister Dr. Arzu Rana Deuba dismissed media reports of disputes between the ruling CPN (UML) and Nepali Congress regarding the visit’s agenda. She assured that the agenda would be finalized soon, underscoring the collaborative efforts of both parties. 

The meeting was attended by prominent political figures, including former Prime Ministers Jhal Nath Khanal, Madhav Kumar Nepal, and Khilraj Regmi, as well as several former foreign ministers. Notably, Nepali Congress President Sher Bahadur Deuba was absent due to being outside Kathmandu. 

ALSO READ: Jaishankar opens Indian Embassy’s new chancery in Rome 

Previous Story

Navy to showcase maritime prowess off Puri 

Next Story

Court extends remand for Nepal’s ex-minister in fraud probe 

Latest from -Top News

‘Kill and Dump’ Haunts Balochistan Again

The latest killings have reignited accusations of extrajudicial executions and the use of counterterrorism laws to cover up custodial deaths in Balochistan….reports Asian Lite News Concerns have deepened across Balochistan following the

‘ASEAN Expands, But Keeps Its Soul’

Malaysian Foreign Minister Mohamad Hasan urged ASEAN to uphold its unity and strategic resolve amid intensifying geopolitical tensions and mounting external pressures…reports Asian Lite News Consensus and inclusivity will remain the cornerstones

Bangladesh bends to beat Trump’s blow

Dhaka seeks compromise as Trump’s 35% tariff looms large over key exports; Washington urges worker protections, factory relocation to US…reports Asian Lite News Bangladesh has opened the second round of critical trade

China seethes as US lands F-35s in PH

As US F-35 jets land in the Philippines for the first time, Manila cements its frontline role in Washington’s power play against rising China….reports Asian Lite News The Philippines is rapidly cementing
Go toTop

Don't Miss

11th round of talks for border pull back

Indian military delegates were led by Lieutenant General PGK Menon,

China’s PC shipments fall another 13%

Lenovo topped the PC market in China, but its shipments