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ISLAMABAD: Pakistan has sought support from the Bank of China to bring back macroeconomic stability, the South Asian country's finance ministry said on Tuesday.

Pakistan's finance minister Ishaq Dar briefed the president of the Bank of China, Liu Jin, about the country's financial and fiscal conditions, the ministry said in a statement.

Pakistan is facing a cash crunch and its foreign exchange reserves held by the State Bank of Pakistan (SBP) have declined to under $8 billion.

While SBP Governor Jameel Ahmad has said that Pakistan's bond payment, due in December, would be made ahead of schedule, questions have been raised on the country's economic outlook as it reels from a flood crisis and remains engaged in talks with the International Monetary Fund (IMF) on its 9th review of a bailout programme.

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Mohammad latif Nov 30, 2022 05:56am
Pakistan can raise up to $20 billion from its own resources : that is what needed to be done : can't go any further by borrowing any more : we have enough resources and means to come up with around $20 billion and enough other resources to turn around the country : need right people and proper plan of action
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Faisal Muhammad Baloch Dec 02, 2022 08:31pm
This needs to discussed in details in Parliament in extended session. Because Banks needs guarantees in the form of Assets. What is the Ministry of Finance proposal? Very critical for every Pakistanis future
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