Pakistan has set its sight on a loan to the tune of US$3 billion from China to stabilise its dwindling foreign exchange reserves and also seeks an investment bonanza in half a dozen sectors during the visit of Pak Prime Minister Imran Khan to Beijing next week, Express Tribune reported.<\/p>\n
In addition to political engagement, the Pak premier would also seek Chinese support in areas of finance, trade and investment.<\/p>\n
The Pakistani prime minister will depart for Beijing on February 3 and attend the inaugural session of the Winter Olympics there.<\/p>\n
A senior finance ministry official said the government was considering requesting China to approve another loan to the tune of $3 billion in China’s State Administration of Foreign Exchange, known as SAFE deposits, the report said.<\/p>\n
China has already placed around US$11 billion with Pakistan in the shape of commercial loans and foreign exchange reserves support initiatives, including $4 billion in SAFE deposits.<\/p>\n
The Chinese money is part of the country’s current official foreign exchange reserves recorded at $16.1 billion.<\/p>\n
In the last fiscal year, the country had paid over Rs 26 billion in interest cost to China only for using a US$4.5 billion Chinese trade finance facility to repay the maturing debt.<\/p>\n
Last month, Pakistan also received a Saudi loan of $3 billion, which the country has consumed. The foreign exchange reserves that before the Saudi injection stood at $15.9 billion have already fallen to $16 billion by January 21.<\/p>\n","protected":false},"excerpt":{"rendered":"
Pakistan has set its sight on a loan to the tune of US$3 billion from China to stabilise its dwindling foreign exchange reserves and also seeks an investment bonanza in half a dozen sectors during the visit of Pak Prime Minister Imran Khan to Beijing next week, Express Tribune reported. In addition to political engagement, […]<\/p>\n","protected":false},"author":1,"featured_media":14496,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[28],"tags":[],"class_list":["post-14495","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-world"],"_links":{"self":[{"href":"https:\/\/demo.testctsl.in\/indiafirstepaper\/wp-json\/wp\/v2\/posts\/14495","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/demo.testctsl.in\/indiafirstepaper\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/demo.testctsl.in\/indiafirstepaper\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/demo.testctsl.in\/indiafirstepaper\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/demo.testctsl.in\/indiafirstepaper\/wp-json\/wp\/v2\/comments?post=14495"}],"version-history":[{"count":1,"href":"https:\/\/demo.testctsl.in\/indiafirstepaper\/wp-json\/wp\/v2\/posts\/14495\/revisions"}],"predecessor-version":[{"id":14497,"href":"https:\/\/demo.testctsl.in\/indiafirstepaper\/wp-json\/wp\/v2\/posts\/14495\/revisions\/14497"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/demo.testctsl.in\/indiafirstepaper\/wp-json\/wp\/v2\/media\/14496"}],"wp:attachment":[{"href":"https:\/\/demo.testctsl.in\/indiafirstepaper\/wp-json\/wp\/v2\/media?parent=14495"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/demo.testctsl.in\/indiafirstepaper\/wp-json\/wp\/v2\/categories?post=14495"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/demo.testctsl.in\/indiafirstepaper\/wp-json\/wp\/v2\/tags?post=14495"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}