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Pakistan gets $1b loan from China

Pakistan Jun, 17 2023
Pakistan gets $1b loan from China
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ISLAMABAD: Pakistan got $ 1 billion loan from all-weather friend, China, State Bank of Pakistan sources reported Friday. Sources said soft code had been received by Pakistan for transfer of tranche of $ 1 billion. Amount was received in SBP account from China tonight.

It is pertinent to mention here that cash-strapped Pakistan has been reeling from acute shortages of forex reserves. $ 1 billion commercial loan extended by China will certainly help Pakistan face challenge. Rupee will slightly gain value and issue of ever rising inflation will ease to some extent.

Published in The Daily National Courier, June, 17 2023

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