- The Finance Minister has turned down the speculations spread by foreign media that Pakistan had yet to receive the $2b loan from China.
Islamabad: China rolled over its $2 billion loan to Pakistan for one year, Finance Minister Ishaq Dar confirmed on Friday.
The Finance Minister rejected the report of the foreign media that Pakistan had still to get Chinese loan.
He made these remarks in response to the question raised by PPP Senator Raza Rabbani in the Senate.
The Finance Minister said the rollover was made on the 23rd March.
He stated that the documentation vis-à-vis the roll-over also stood completed and it was no longer in the pipeline.
Earlier, the reports emerged that China was still working on $2 billion loan for Pakistan facing financial challenges. The rollover, it said, was crucial for Pakistan economy as its reserves depleting with every passing day.
On other hand, Pakistan’s deal with International Monetary Fund (IMF) could not reach any conclusion as the fund last details from Pakistan about the subsidy it announced for the poor people. The PM had few week ago said that the IMF programme would be finalized in a week or so but many days had been passed and no development took place in this regard.