Pakistan Likely to Receive $1.3 Billion from Chinese Bank

Pakistan is expected to get $1.3 billion in funding from the Industrial and Commercial Bank of China in the next few days to assist increase its foreign exchange reserves, according to Finance Minister Ishaq Dar on Friday.

Speaking at a press conference, he expressed the hope that by June 30 both the national and State Bank of Pakistan (SBP) reserves will increase to $10 billion.

The administration has a plan and policies in place to get the nation out of its current economic difficulties. Dar stated that all previous requirements sought by the International Monetary Fund (IMF) had been met with regard to the development of negotiations for a rescue programme.