ISLAMABAD, June 22(ABC): Pakistan on Wednesday signed a RMB 15 billion ($2.3 billion) loan facility agreement with a Chinese consortium of banks which is expected to aid the depleting foreign exchange reserves and depreciation of local currency.
Finance Minister Miftah Ismail announced the development on his Twitter handle, revealing that the inflows are expected within a couple of days.
“We thank the Chinese government for facilitating this transaction,” he said.
Petroleum prices in Pakistan are expected to increase from September 16, as the oil indust…
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