Karachi: Pakistan has received one billion dollars from China, which was confirmed by the State Bank.
According to the State Bank of Pakistan, receiving one billion dollars from China has a direct impact on foreign exchange reserves.
According to the State Bank, after receiving 100,000 dollars from China, the government’s foreign exchange reserves crossed the level of 5 billion dollars.
Earlier, while briefing the National Assembly’s Standing Committee on Finance, Ishaq Dar said that the debt we have paid to China is being recovered. One billion dollars will arrive from China today or Monday. He said that negotiations with China for one billion dollars have been completed, while negotiations with the Bank of China for 300 million dollars are going on. China will also give more dollars to Pakistan under the swap agreement.
The finance minister had said that the delay in the budget strategy paper was due to delay in discussions with the International Monetary Fund (IMF). The IMF has set conditions for external financing, which they are fulfilling, clapping with both hands, all arrangements have been made. A gas pipeline asset of 50 billion dollars is with Pakistan, while 6 thousand billion dollars can be obtained from Recodec.
He had said that even if there was no election, the budget would have been presented in the same way. Tax measures worth Rs 223 billion have been introduced in the budget, focusing on the IT sector and SMEs. CPI is around 29 percent and core inflation is around 20 percent.