Pakistan receives $ 2.1 billion from China

Islamabad: The Finance Ministry said on Monday that the country’s state bank has received 2.1 billion US dollars. Spokesperson for the Finance Ministry Khaqan Najeeb tweeted that the transfer is due to successful multi-pronged strategy of the government of Pakistan to ensure stability in balance of payments position. He said the government has also succeeded in curtailing current account deficit, improving remittances and ensuring adequate foreign exchange financing. He said that foreign exchange reserves have now increased to comfortable level. The State Bank of Pakistan (SBP) has also confirmed that it has received the money from China as proceeds of the loan obtained by government of Pakistan from China. With this deposit, the country’s forex exchange reserves have strengthened while the situation of balance of payment has also been improved, the ban said in a message send to the media.