China is once again giving a loan of $1.3 billion to Pakistan which is on the verge of bankruptcy. Pakistan's Finance Minister Ishaq Dar gave this information on Friday. Dar said- the Industrial and Commercial Bank of China (ICBC) has approved this loan, which will help Pakistan to increase its dwindling foreign exchange reserves again. This money will be given in 3 installments. Out of this, the first tranche of 0.5 billion dollars has arrived in the Central Bank of Pakistan.
Dar said - We have never been poor and will never be. We returned $1.3 billion to China to repay its debt. China is giving this money back to us considering our economic condition. Foreign exchange reserves are left in the Central Bank of Pakistan only for 3 weeks of imports. Even before this, China has given us a loan of $ 0.7 billion to increase foreign exchange reserves.
Pakistan needs $5 billion
Dar pointed out that Pakistan needs foreign funding of $5 billion in the fiscal year ending in June to close its fiscal gap. He will be able to get more funding only after the deal is signed with the IMF. According to Dar, the deal is expected to be signed by next week.
The bailout package was signed with IMF in 2019
Pakistan has been discussing the loan with the IMF since the beginning of last month. If the deal is signed between the two, the IMF will release a tranche of about $1 billion for Pakistan under the $6.5 billion bailout fixed in 2019. In fact, in 2019, during Imran Khan's government, the IMF promised to provide more than $ 6 billion to Pakistan under the bailout package. Now, under this promise, Pakistan is seeking another tranche of $1.1 billion from the IMF.
Inconclusive talks with IMF
On 31 January 2023, an IMF team led by Nathan Porter reached Pakistan. The meeting of this team was held in two phases with Finance Minister Ishaq Dar. During this, Pakistan demanded a loan from the IMF under the bailout package. However, this meeting which lasted for 10 days was inconclusive.
Maha Kumbh 2025: Prayagraj Maha Kumbh area is spread over 25 sectors. Where are the ghats and temples?
Maha Kumbh is going to be organized in Prayagraj, Uttar Pradesh. Preparations for the Kumbh Mela are going on right now. Meanwhile, information has been shared through a video map about the Kumbh to
Manipur Violence: CBI's 'Special 53' team to investigate Manipur violence, 29 women officers also included
A list of 53 officers, including 29 women officers of various ranks, has been released on Wednesday for the investigation of caste violence in Manipur. 29 women, including two women DIG rank officers,
Gyanvapi Case: Order will come on the demand of giving the survey report of Gyanvapi complex to the parties, the Hindu side's lawyer said - today is an important day.
An order will come today (Wednesday) on the demand to hand over the report of the Archaeological Survey of India (ASI) survey in the Gyanvapi complex to the parties. Along with this, many applications
Doctors set up OPD on the road in Delhi, patients are facing a huge problem in Bihar; a Protest march was taken out in Rohtak
On Monday, doctors in many cities of the country went on strike and staged protests against the rape and murder of a junior female resident doctor at Kolkata's RG Kar Medical College.
Artificial Global Partnership Summit will be organized in India, PM Modi said in the second Voice of Global South Summit
Voice of Global South Summit: Prime Minister Narendra Modi addressed the Voice of Global South Summit.
CSK vs GT: Gujarat captain Shubman fined lakhs of rupees, made this mistake in the match against Chennai
Gujarat Titans captain Shubhman Gill was fined Rs 12 lakh for slow over-rate during the match against Chennai Super Kings on Wednesday. An IPL statement said that this was his team's first offense of
G-20 Summit: White House praised PM Modi, said- Biden is feeling positive
The G-20 summit held under the chairmanship of India this year was very successful. The success of G-20 is being praised all over the world. The White House has been praising India and PM Modi since
Republic Day 2025: Prime Minister Modi set an example, picked up garbage on the path of duty; this initiative won the hearts of the people
Prime Minister Narendra Modi on Sunday set a strong example by reiterating his commitment to a clean India by picking up garbage on the path of duty during the celebrations organized on India's 76th
Pushpa 2: Aamir Khan was impressed with Pushparaj's acting, and couldn't stop praising him, Allu Arjun expressed his gratitude
Allu Arjun's 'Pushpa 2' has been a blockbuster at the box office despite all the controversies. On social media, some are praising the film and the actor fiercely. Now actor Aamir Khan has also come
Unity Day: Grand parade on Sardar Patel's 150th birth anniversary, PM Modi pays tribute at the Statue of Unity
On the occasion of the 150th birth anniversary of Sardar Vallabhbhai Patel, the Iron Man of India, Prime Minister Narendra Modi paid tribute to him by offering flowers at the Statue of Unity in
