China transfers 2 2.3 billion to Pakistan: Muftah Ismail

In a message on social networking site Twitter, Finance Minister Muftah Ismail said, “I am happy to announce that a consortium of Chinese banks has deposited about ً 2.3 billion in the State Bank of Pakistan’s account today.”

In his message, Muftah Ismail said that our foreign exchange reserves have increased after the transfer of loans from China.

According to media reports, the Ministry of Finance has said that the loan given by China will be commercial with an interest rate of 1.5% (Shanghai Interbank Offer Rate).

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