Finance Minister Muhammad Aurangzeb will embark on a visit to China on Tuesday.
Sources close to the development said that the finance minister’s visit aims at Pakistan’s efforts to reschedule a $15 billion loan from Beijing. A joint working group is expected to be set up between Pakistan and China to facilitate the loan rescheduling.
Discussions will also address China’s energy circular debt, currently amounting to Rs480 billion. The Finance Minister will engage in talks regarding the Panda Bond, with Pakistan aiming to secure a $250 million Panda Bond during this visit.
Earlier this year, China rolled over a $2 billion loan to Pakistan, which was due in March and extended for one year.
Finance Minister Aurangzeb Confident In Eliminating the Concept of Non-Filer
Pakistan is making attempts to stabilize from a financial crisis, having secured a $3 billion standby arrangement from the International Monetary Fund last summer.
Rating agency Fitch recently noted that Pakistan’s vulnerable external position means securing financing from multilateral and bilateral partners will be among the most urgent issues facing the next government.
Karachi witnessed a vibrant diplomatic gathering, as the Honorary Consulate of Mozambique marked the country’s…
Professor Karim Damji has been appointed as the Dean of the Medical College, Pakistan. A…
Global accountancy body ACCA (the Association of Chartered Certified Accountants) has announced a redesign of…
Pakistan’s first monsoon spell of the season begins today, with widespread rainfall forecast across the…
Advergic is the only ad tech company in Pakistan officially partnered with Google to directly…
33-year-old state legislator Zohran Mamdani is on track to win New York City’s Democratic mayoral…
This website uses cookies.