Pakistan to pay back $500 mil to China: Dar

[Kabira]

ISLAMABAD (Dunya News) – Ishaq Dar issued a statement on Tuesday from the federal capital Islamabad that Prime Minister Nawaz Sharif has directed authorities to return $500 million back to China on January 23, reported Dunya News.

Reports stated that Nawaz Sharif praised the role of China in Pakistan s period of crisis. Pakistan had earlier requested this amount way back in 2009 for foreign exchange. It was told that Pakistan will be returning the amount back to China on January 23 without profit.

Previously, a session was chaired by Finance Minister Ishaq Dar to overview Pakistan’s economic performance. The session discussed economic strategy for the coming five years.

A law also came under discussion which is to lessen the debt in economy by 60 percent. The Finance Minister claimed that fiscal deficit is being decreased continuously and it will be restricted to 3.5 percent at the end of this year.

“We will make such a strategy that debts become only 50 percent of our economy”, Ishaq Dar added. Within the next 15 years, he believes that debts will be brought within 50 percent of the country’s economy.
http://dunyanews.tv/en/Business/370879-Pakistan-to-pay-back-500-mil-to-China-Dar

 

[Stag112]

Nawaz is very good for Pakistan economy. Not sure why he is hated by most posters here.

Same Haseena in BD.

 

[Hassan Guy]

Pakistan paying back debt?

This gotta be a fake article.

 

[Oracle]

Dont worry , We will take loan of $1 Billion and return $500 mil loan

 

[Talwar e Pakistan]

Dont worry , We will take loan of $1 Billion and return $500 mil loan

Gotta love the negativity...

 

[The Sandman]

Nawaz is very good for Pakistan economy. Not sure why he is hated by most posters here.

Same Haseena in BD.

He's hated because he is corrupt to the core and he acts like as if he's a king and not a freaking PM.

 

[Path-Finder]

He's hated because he is corrupt to the core and he acts like as if he's a king and not a freaking PM.

He is liked by india!!! for a reason!!!

 

[Saifullah Sani]

DAR DIRECTS SBP TO REPAY $500M TO CHINA'S SAFE

Finance Minister Ishaq Dar has directed State Bank of Pakistan to repay loan of five hundred million dollars to Chinese State Administration of Foreign Exchange (SAFE) upon its maturity on 23rd of this month.

The loan was got in January 2009 due to the weak current account situation at that time.

The decision to repay the loan was taken in view of the strong macro-economic performance and stable foreign exchange reserves position of the country.

Prime Minister Muhammad Nawaz Sharif has formally expressed his deep appreciation to the government of China for the critical support provided through the Safe deposit for stabilizing the current account since 2009.

http://www.radio.gov.pk/17-Jan-2017/dar-directs-sbp-to-repay-500m-to-china-s-safe

 

[deckingraj]

He's hated because he is corrupt to the core and he acts like as if he's a king and not a freaking PM.

A corrupt person who is good for economy is still better, no? If economy improves all lives in Pakistan improve as well...I mean i am equally surprised..On one hand he is ridiculed all the time and on other side all these positive news about economy keep coming....so either these articles are false or he gets flak for all the wrongdoings but no praise for good work...

 

[Shotgunner51]

Excellent credibility! Various rating agencies should study the details and see whether an upgrade is applicable to Pakistan's sovereign ratings, which helps lower future financing costs. Prior to this on 2016 June 23, Dagong Global Credit Rating (for Chinese investors) had made an upgrade on outlook from "stable" to "positive", let's see what's the next upgrade.

 

[The Sandman]

A corrupt person who is good for economy is still better, no? If economy improves all lives in Pakistan improve as well...I mean i am equally surprised..On one hand he is ridiculed all the time and on other side all these positive news about economy keep coming....so either these articles are false or he gets flak for all the wrongdoings but no praise for good work...

By that logic a murderer who is doing a bit of charity shouldn't be punished than? and if he's corrupt than how he is good for our country in the end he will do some kind of corruption no?

 

[deckingraj]

By that logic a murderer who is doing a bit of charity shouldn't be punished than? and if he's corrupt than how he is good for our country in the end he will do some kind of corruption no?

So whom do you prefer..an honest person without any impact on economy or a corrupt person with positive effect on economy? Ideally i want honest person with positive impact on economy...what do you think is the next best??

 

[The Sandman]

So whom do you prefer..an honest person without any impact on economy or a corrupt person with positive effect on economy? Ideally i want honest person with positive impact on economy...what do you think is the next best??

A corrupt person is a corrupt person no matter how much he do for economy he has looted this country. I don't know currently there's no one from his own party whom we can call an honest man to replace him except Ch Nisar (interior minister) maybe other than that obviously it's IK.

The negative propaganda is planted by the Pakistani Army for a reason. Civilians can't be seen to be taking credit for economic growth or even recovery.

For every inch of ground that the civilians in Pakistan gain, the Pakistani Army loses one.

oh my God your obsession with Pakistan army people like you are just hopeless

Brother 99% politicians are corrupt, it does not matter it is india or pakistan. In India too, you had heard billions of dollar of scams. That is not pakistan alone problem, that is south asia problem.

But still Nawaj Sharif is strong and sensible leader for pakistan and thats why he is praised in India. he should be elected for next term too. it is needful for CPEC success.

"Neta koi bhi aye , usko khaney se koi rok nahi sakta.that is 100% true. We elect kejriwal in delhi and thought he is 100% clean. and his agenda was 100% corruption free. but now everybody knows who is he.

Ye Neta kisi kea nahi hotey, or inko khaney se koi nahi rok sakta.

For your king information. Nawaj Sarif has good reputation in india as well as in other countries too specially in UK. and at the worst case he is managing pakistan relatiion with America for so many Odds.

I agree sadly it's a curse on us that indeed 99% of our politicians are corrupt but we've to change this if we can punish even hang few of them than that will be enough for others to think 100 times before doing corruption again.

He can't be elected again according to law so next candidate will be someone from his party or his family < that's why i called him a king.

But people elected IK in KPK and a lot of things have changed in KPK for good.

We saw how he managed Trump's call.
P.S sry mods for derailing it didn't wanted to but i just gave a reply and well.... it happens.

 

[deckingraj]

A corrupt person is a corrupt person no matter how much he do for economy he has looted this country. I don't know currently there's no one from his own party whom we can call an honest man to replace him except Ch Nisar (interior minister) maybe other than that obviously it's IK..

Look as an India i obviously will have no bias for any party...All i am saying is that a corrupt person who is good for economy is the next best choice....MMS is considered very honest and yet India literally lost a decade....Irrespective of loot(which no sane mind can justify) a stronger economy helps common Pakistani's...Now if you can get an ideal PM then nothing better...and no-one is saying he should not get flak for corruption...however in the same token he should get praise if Pakistan economy is doing better under him....no??

 

[Abingdonboy]

Nawaz is very good for Pakistan economy. Not sure why he is hated by most posters here.

Same Haseena in BD.

Nawaz's economic policy is to create dept liabilities for future generations to service present day liabilities. 10-15 years down the line this ponzi scheme is going to blow up unless Pakistan can grow its GDP 4-5 times and its tax base 50-60%.

"Pakistan pays back China" is trend of the future....