Karachi: A commercial loan of $500 million from China boosted the government’s foreign exchange reserves.
An increase of 48.7 million dollars was recorded in the government reserves of foreign exchange last week, the government reserves came to the level of 4 billion 30 million dollars.
On March 3, the value of the total foreign exchange reserves was recorded at 9 billion 75 million dollars.
State Bank of Pakistan says that commercial banks have foreign exchange reserves of 5 billion 453 million dollars.
It should be clear that The Chinese Bank ICBC has approved a financing facility of one billion 30 million dollars for Pakistan, of which the first installment of fifty million dollars was received by the State Bank on March 3. Pakistan will get this amount from the Chinese bank in three installments.
(function(d, s, id){
var js, fjs = d.getElementsByTagName(s)[0];
if (d.getElementById(id)) {return;}
js = d.createElement(s); js.id = id;
js.src = “//connect.facebook.net/en_US/sdk.js#xfbml=1&version=v2.3&appId=770767426360150”;
fjs.parentNode.insertBefore(js, fjs);
}(document, ‘script’, ‘facebook-jssdk’));
(function(d, s, id) {
var js, fjs = d.getElementsByTagName(s)[0];
if (d.getElementById(id)) return;
js = d.createElement(s); js.id = id;
js.src = “//connect.facebook.net/en_GB/sdk.js#xfbml=1&version=v2.7”;
fjs.parentNode.insertBefore(js, fjs);
}(document, ‘script’, ‘facebook-jssdk’));