Pakistan will receive $2.5b loan from China in June, finance ministry official confirmed. As compared to IMF which is nothing short of an entity of America, China did not ask for any sort of increase on fuel, gas or electricity.
The two countries have concluded the negotiations on the commercial loan and a formal agreement is expected in June.
Addressing a press conference, Finance Minister Miftah Ismail confirmed the development, adding that the country would soon hear good news from China.
According to the finance ministry officials, the loan would help to shore up Pakistan’s foreign exchange reserves.
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