Pakistan-China
Pakistan eyeing to manage $3b loan from China during Imran Khan's visit to Beijing
Islamabad: Pakistan is eyeing to manage a loan of $3 billion from China to stabilise its dwindling foreign exchange reserves and also seeks an investment bonanza in half a dozen sectors during the visit of Prime Minister Imran Khan to Beijing next week.
Government sources told The Express Tribunesaid that in addition to political engagement, the premier would also seek Chinese support in areas of finance, trade and investment.
A final meeting to shape the agenda of the visit would take place on Tuesday -- two days before the scheduled visit, the sources added.
Khan is scheduled to attend the inaugural session of the Winter Olympics in Beijing.
A senior finance ministry official was quoted as saying by The Express Tribune that the government was considering requesting China to approve another loan to the tune of $3 billion in China’s State Administration of Foreign Exchange, known as SAFE deposits.
China has already placed around $11 billion with Pakistan in the shape of commercial loans and foreign exchange reserves support initiatives, including $4 billion in SAFE deposits.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
Support objective journalism for a small contribution.
