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ISLAMABAD: Pakistan has sought rollover of SAFE China deposits of $ 2 billion in March 2023. Nong Rong, ambassador of the People’s Republic of China called on Federal Minister for Finance and Revenue Senator Ishaq Dar, here at the Finance Division.

Dar highlighted the deep-rooted friendship and brotherly relations between Pakistan and China.

$10bn may be sought from China during PM’s visit

The finance minister also appreciated the support extended by the Chinese leadership in the refinancing of syndicate facility of RMB 15 billion ($ 2.24 billion) to Pakistan and further sought the support of the ambassador in facilitating rollover of SAFE China deposits of $ 2 billion in March 2023.

The finance minister apprised the ambassador about the damages caused by the unprecedented floods in Pakistan affecting the infrastructure, agriculture, lives and properties and cost to the economy at large.

He expressed gratitude to the Government of China for extending all-out support to the government and people of Pakistan in this hour of need.

Referring to the CPEC, the finance minister said that the economic corridor will play an important role in taking Pakistan’s economy forward as well as cementing the bilateral relationship between both countries. He further assured his full support for the assistance, making CPEC a success.

China rolls over $2bn SAFE deposits: Finance

Nong Rong extended his felicitations to the minister on assuming his new responsibilities. The ambassador reaffirmed the Chinese government’s continued support to Pakistan and emphasized that China stands with the people of Pakistan in this hour of need like a rock.

Copyright Business Recorder, 2022

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