Finance Minister Ishaq Dar says that the documentation process for obtaining another 500 million dollars from China has been completed.
In a Twitter message, the Finance Minister said that $500 million in Chinese funds will be released to the State Bank of Pakistan soon.
Ishaq Dar further said that the Chinese bank had approved a rural transfer of $1.3 billion to Pakistan, which Pakistan had recently paid back to the Chinese bank.
Closer to agreement with IMF, Governor State Bank
It should be noted that under this facility on March 4, Pakistan has received $500 million on Friday, the remaining $800 million will be received soon in two installments. According to the Finance Minister, Pakistan’s Foreign exchange reserves will increase.
According to the data of the Central Bank, the country’s foreign exchange reserves increased by 49 million dollars during a week.
According to the statement, after the increase of 49 million dollars, the total volume of the country’s foreign exchange reserves has reached 50 billion dollars. State Bank has reserves of 4.3 billion dollars and commercial banks have 5.45 billion dollars.