$2757.400 million six projects launched with Chinese support: National Assembly told

Minister for Finance, Revenue and Planning and Development Dr Abdul Hafeez Sheikh has said that six projects worth 2757.400 million dollars have been launched with technical & financial support of China, from March, 2005 to December 2010 while another five projects worth 409.292 million dollars are in the pipeline for implementation.
In written reply to a question in the National Assembly on Monday the Minister said that a total of 837.547 million dollars has been disbursed on six projects up till February 2011. Giving another reply, the Minister said Pakistan signed Stand By Arrangement (SBA) with IMF for the financing of SDR 5.169 billion or 7.6 billion dollars on November 2008. Initially the programme period was 23 months (November 2008 - December 2009) on August, 2009 the SBA was augmented to SDR 7.236 billion or 11.327 billion dollars and extended to end 2010, he said.
He said that the fourth programme review was completed on May 31, 2010. He added that in December, 2010 programme was further extended for nine months (September 2011) to implement the policy measures envisaged under reform programme and to allow sufficient time to complete the remaining Fifth and Sixth reviews under SBA.