ISLAMABAD: Federal Minister for Finance and Revenue Miftah Ismail stated on Wednesday that the Pakistani government signed a loan agreement of RMB 15 billion ($2.3 billion) with the Chinese consortium of banks the previous day.
According to the minister, the inflow is expected within the next few days. “We thank the Chinese government for facilitating this transaction,” he added in a tweet, while expressing gratitude to President Xi Jinping and Foreign Minister Wang Yi.
Miftah Ismail also announced the Pakistani government might also close an agreement with the International Monetary Fund (IMF) by the end of this week. All budget-related issues with the IMF have been settled as well.
Sources report that the government came to terms with the IMF in regards to the federal budget (2022-23), opening up opportunities for the revival of increased fund facilities. The minister agreed to generate additional taxes in the upcoming fiscal year.
Foreign Minister Bilawal Bhutto-Zardari also thanked the Chinese leadership for the loan facility agreement on Wednesday.
Amidst the fertile plains of Punjab, Pakistan, lies Kassowal, a town brimming with historical significance…
Located in Punjab, Pakistan, lies a small yet vibrant town called Chak Jhumra. Despite its…
The Ittefaq Group of Industries' family members founded Ittefaq Hospital in Lahore. Mian Muhammad Sharif…
Tando Bago is a town in Pakistan that is tucked away in the center of…
Amidst the fertile plains of Punjab, Pakistan, lies Aminpur Bangla, a town brimming with potential…
Jhal Magsi District is a gem of a city located in the central region of…