Pakistan may get loan $7.75bn from China and Saudi Arabia

MG News | November 05, 2022 at 08:35 PM GMT+05:00

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November 5, 2022 (MLN): Pakistan is expected to receive financing of $4.75 billion from China through commercial banks and deposits and $3bn from the Saudi Arabia.

“During the recent visit of Prime Minister Shahbaz Sharif to Beijing, Chinese leaders promised to renew a loan worth $4bn for Pakistan”,Finance Minister Ishaq Dar told to reporters in Islamabad.

FM said, China has agreed to start soon work on high speed rail project ML-1 from Karachi to Peshawar.

Moreover the Minister said, we also received positive response from Saudi Arabia and they will provide oil facility of $1.2bn for one year and going to set up petrol chemical plant at Gwadar.

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