ISLAMABAD: Federal Minister for Finance and Revenue Miftah Ismail stated on Wednesday that the Pakistani government signed a loan agreement of RMB 15 billion ($2.3 billion) with the Chinese consortium of banks the previous day.
According to the minister, the inflow is expected within the next few days. “We thank the Chinese government for facilitating this transaction,” he added in a tweet, while expressing gratitude to President Xi Jinping and Foreign Minister Wang Yi.
Miftah Ismail also announced the Pakistani government might also close an agreement with the International Monetary Fund (IMF) by the end of this week. All budget-related issues with the IMF have been settled as well.
Sources report that the government came to terms with the IMF in regards to the federal budget (2022-23), opening up opportunities for the revival of increased fund facilities. The minister agreed to generate additional taxes in the upcoming fiscal year.
Foreign Minister Bilawal Bhutto-Zardari also thanked the Chinese leadership for the loan facility agreement on Wednesday.
Kalabagh, a small yet historically significant town in Pakistan’s Punjab province, is located within the…
Nazimabad Number 2 is a well-known neighbourhood in Karachi, Pakistan, renowned for its vibrant community,…
Quetta Town is a residential neighbourhood located in the vibrant city of Karachi, Pakistan. Known…
Akbar Chowk in Lahore stands as one of the city’s most critical intersections, serving as…
Khuda Baksh Colony, located near Bhatta Chowk in Lahore, is a rapidly developing residential area…
Gol Market in Karachi is one of the city's most iconic and bustling commercial centres.…
Welcome to Graana Blog - Pakistan’s Smartest Property Portal!
For more than a decade our intention has been to revolutionise the real estate industry in Pakistan. The same belief drove the vision of our real estate team, Graana where quality beats quantity.
We have introduced an extremely transparent and purposeful portal where we will help you buy, rent or sell your property. A place where you can sit back relax and let us market your projects and listings. We believe we have set new standards for the future of real estate in Pakistan by providing the smartest property portal.
