ISLAMABAD: Pakistan on Friday got $1 billion loan from China, the State Bank of Pakistan said.
Sources said a soft code had been received by Pakistan for the transfer of the tranche of $1 billion. The amount was received in the SBP account from China tonight.
Cash-strapped Pakistan has been reeling from the acute shortages of the forex reserves. The $1 billion commercial loan extended by China will certainly help Pakistan face the challenge. The rupee will slightly gain value and issue of ever rising inflation will ease to some extent.
