Pakistan will receive two point one billion US dollar from China today, which would ensure balance of payment stability. In a tweet, Finance Ministry’s Spokesman Dr Khaqan Najeeb said the funds would be deposited in the State Bank of Pakistan and it would also strengthen the country’s foreign exchange reserves position.
In November, the Financial Times reported that China had pledged to lend at least $2bn to Pakistan to shore up its foreign exchange reserves and prevent further devaluation of the rupee against the dollar.
“The financial support package for Pakistan is currently being worked out … it will be more than what extended by Saudi Arabia in terms of financial grant,” Deputy Head of Mission at Chinese Embassy Zhao Lijian told reporters in November last year.
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17 August, 2019