Pakistan seeks help from Bank of China to tackle economic crisis

[FOOLS_NIGHTMARE]

• Pakistan seeks help from Bank of China to bring back economic stability.
• Ishaq Dar holds a virtual meeting with Bank of China President Liu Jin.
• Bank of China president highlights historical and bilateral ties between both countries.

ISLAMABAD: In view of the prevailing economic crisis, Pakistan on Tuesday sought help from the Bank of China to restore economic stability in the country.

Federal Minister for Finance and Revenue Ishaq Dar held a virtual meeting with Bank of China President Liu Jin at the Finance Division where he briefed the latter about the financial and fiscal conditions inherited by the present government.

During the meeting, the finance minister tried to convince them of an expansion of business relations with Islamabad to deepen the economic and financial relations.

As per a statement issued by the Ministry of Finance, Dar shared that it has always been a great pleasure to work with the Bank of China and Pakistan has enjoyed “sound financial dealings” with the bank.

The finance minister also highlighted the recent visit of Prime Minister Shehbaz Sharif to China and talked about the reciprocation of warm sentiments from the Chinese leadership.

Dar, while talking about the long-standing and durable relationships between the government of both countries, shared gratitude to the Bank of China president for continuous support to Pakistan in testing times.

https://twitter.com/x/status/1597616211352686597

“It was shared that the Bank of China has played a crucial role in extending budgetary support to Pakistan which has played a significant role in easing pressure on the external account and meeting budgetary needs,” the statement mentioned.

Speaking on the occasion, the Bank of China president also highlighted the historical and bilateral ties between both countries and appreciated the Government of Pakistan for taking the necessary measures for easing the lives of the masses in the country.

He also acknowledged the contribution of Pakistan in supporting China during hard times. Liu Jin also commended the ongoing facilitation being provided by the Government of Pakistan on various Chinese projects under the umbrella of the China-Pakistan Economic Corridor (CPEC).

In conclusion, the finance minister thanked the bank’s president for continuous support and assured him of the same support by the present government in deepening the economic, trade and investment cooperation.

Pakistan seeks help from Bank of China to tackle economic crisis

Ishaq Dar briefs Bank of China president about financial and fiscal conditions inherited by present govt

www.geo.tv

 

[epebble]

Some good news​

Pakistan receives $500m from Asian Infrastructure Investment Bank​

Pakistan receives $500m from Asian Infrastructure Investment Bank

Finance minister says funds have been transferred to central bank.

www.dawn.com

and some bad

Govt struggles for $1.18bn tranche​

Govt struggles for $1.18bn tranche

Finance ministry says IMF verifying flood expenditure before allowing concessions under 9th review.

www.dawn.com

 

[Thəorətic Muslim]

Dar has 25+ years of experience dealing with the IMF.

What experience does he have with negotiating with the Bank of China?

 

[maithil]

Well... anything they get will be spent like following...

https://twitter.com/x/status/1597263144594079745

 

[SaadH]

Where's that Bharwa Mir Bajwa who made a bold statement at the Islamabad Secuirty Summit that US is our largest trading partner. Whatever happened to the relief/rescue package promised for ousting IK?

Why go to China for financial relief when Mir Bharrwa said they only sell us some weapons systems.