ISLAMABAD, June 24 (ABC): Federal Minister for Finance and Revenue Miftah Ismail said that a loan of $2.3 billion from China was expected to be transferred by June 27 and China had also rerolled the safe deposits that were due in June and July.
China always supported Pakistan at a crucial time, “ he maintained.
“It is our responsibility to save Pakistan from default. And we did it and can say now that Pakistan has been saved from default,” the minister remarked.
He claimed the government had saved the country from bankruptcy by increasing diesel and petrol prices and by remaining continuously engaged with International Monetary Fund (IMF).
He mentioned that the decision to increase petroleum products’ prices was not easy but the government had to take it to save the country.
He observed that Pakistan was now returning to better financial position citing the increasing valuation of rupee against dollar and performance of Pakistan Stock Exchange as examples of the progress.
Earlier in the day on Thursday, Miftah Ismail held a meeting with Pang Chunxue, Charge d’affaires of the Chinese Embassy in Pakistan, who called on him here.