Islamabad: Finance Minister Ishaq Dar announced on Monday that Pakistan would be receiving another USD 1.3 billion from its all-weather partner China to help replenish its rapidly dwindling foreign exchange reserves. This came just days after Pakistan received USD 700 million from Beijing.
Dar, speaking at a press conference here, announced that the Industrial and Commercial Bank of China Ltd (ICBC) would be providing the funding in the coming days.
As of last night, we have concluded all necessary procedures with the ICBC. We've sent them back $1.3 billion over the past few months... They're handing it back to us after refurbishing this building, he remarked.—Inputs from AgenciesÂ