Pakistan to get $2.3bn from China within few days: Miftah Ismail

News Image

By MG News | June 22, 2022 at 05:09 PM GMT+05:00

0:00

June 22, 2022 (MLN): In another breakthrough, the Chinese consortium of banks has signed a $2.3 billion loan facility agreement on Wednesday which will be received by Pakistan within a few days.

Taking to his Twitter handle, Federal Minister for Finance and Revenue, Miftah Ismail informed, “The Chinese consortium of banks has today signed the RMB 15 billion (~$2.3 billion) loan facility agreement after it was signed by the Pakistani side yesterday.”

“Inflow is expected within a couple of days,” he added.

He also thanked the Chinese government for facilitating this transaction.

The inflow will surely give some respite to the depleting foreign exchange reserves and stabilize the deteriorating rupee-dollar parity.

In addition to it, key progress has been made in talks on the revival of Pakistan's International Monetary Fund bailout program wherein Pakistan side is expecting the lender to increase the size and duration of the 39-month, $6bn facility.

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 132,646.34
88.83M
-0.57%
-756.85
ALLSHR 82,972.30
486.01M
-0.26%
-215.76
KSE30 40,358.77
31.91M
-0.72%
-292.69
KMI30 190,819.09
36.10M
-0.66%
-1264.82
KMIALLSHR 55,699.54
249.78M
-0.27%
-148.15
BKTi 36,197.75
5.55M
-0.62%
-225.12
OGTi 28,238.91
6.81M
-0.70%
-198.70
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 109,045.00 109,545.00
108,625.00
-170.00
-0.16%
BRENT CRUDE 69.98 70.09
69.85
-0.17
-0.24%
RICHARDS BAY COAL MONTHLY 97.50 0.00
0.00
2.05
2.15%
ROTTERDAM COAL MONTHLY 106.65 106.65
106.25
0.50
0.47%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 68.14 68.27
67.78
-0.19
-0.28%
SUGAR #11 WORLD 16.15 16.37
16.10
-0.13
-0.80%

Chart of the Day


Latest News

Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg