Pakistan likely to get USD1 Billion from China as soft loan

Pakistan likely to get one billion dollars from china for the period of three years on expected rate of 4.40 percent per annum.

“It is matter of time when Pakistan to get one billion dollars from China, as negotiations have been finalized”, said an official of foreign bank.

The amount to be received from China would help support the foreign exchange reserves which has been fast depleting from October after touching in excess of 24 billion dollars.  Currently the country’s overall foreign exchange reserves stood around 21 billion dollars.

After receiving amount from China the government would easily pay off the outstanding bonds payment maturing soon amounting to 750 million dollars and 300 million dollars respectively