- Pakistan will receive this amount in three instalments
- Ishaq Dar said the loan facility will increase forex reserves.
- Dar has said that there is no plan to impose financial emergency
ISLAMABAD: Finance Minister Ishaq Dar says that the Chinese Bank ICBC has approved rollover of 1.3 billion US dollar loan after completing the necessary formalities.
In a tweet tonight, he said Pakistan will receive this amount in three instalments. The first instalment of 500 million dollars has been received by the State Bank of Pakistan.
Ishaq Dar said the loan facility will increase forex reserves.
On March 3, Federal Minister for Finance Ishaq Dar has said that there is no plan to impose financial emergency in the country yet.
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He made the claim while addressing a press conference in Islamabad on Friday.
He said that he would support the establishment of a commission consisting of neutral experts to determine those responsible for economic destruction.
Ishaq Dar blamed the previous PTI government for pushing the nation of 220 million people on the brink of default; claiming that it was the coalition government that saved the country by prioritising the state over their politics.
He admitted that the agreement with the International Monetary Fund (IMF) was not in his hand, claiming that the country’s reserves would reach $16 billion by June 30, 2023.
