Pakistan receives 2.1 billion dollars from China

A spokesperson of the finance ministry said that the State Bank of Pakistan on Monday has received 2.1 billion dollars from the neighboring country China.

The spokesperson, Dr Khaqan Najeeb Khan has confirmed the deposit to the central bank and said that it will help contain the balance of payment position and boost Pakistan’s foreign exchange reserves.

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“The financial support package from China to Pakistan is currently being worked out… it will be more than what extended by the Kingdom of Saudi Arabia in terms of financial grants,” Zhao Lijian, Deputy Head of Mission at Chinese Embassy said while talking to media in November last year.

The PTI-led government of Pakistan was able to secure back-back financial support packages from Saudi Kingdom and the United Arab Emirates (UAE) during the PM Khan’s visits to these countries last year.

The government of Saudi Arabia has deposited 3 billion dollars it had pledged in a support of Pakistan’s foreign exchange reserves. On the other hand, the government of United Arab Emirates (UAE) has sent 2 billion dollars and announced to send another 1 billion dollars soon.

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