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Pakistan to repay Chinese US$ 500 million loan: Minister

2017-01-18 09:05:23       source:Xinhua News Agency

January 17, 2017


"Pakistani Finance Minister Senator Mohammad Ishaq Dar has directed the State Bank of Pakistan to repay a loan of 500 million US dollars to the Chinese State Administration of Foreign Exchange (SAFE), upon its maturity on January 23, the Finance Ministry said Tuesday.


'The loan in the form of a deposit was taken in January 2009, due to the weak current account situation at that time and placed with the State Bank of Pakistan. Since then the deposit was rolled over annually, with the latest maturity date set at 23rd January, 2017,' a Ministry's statement said."


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