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Pak Eyes $3 Billion Loan During Imran Khan's Upcoming China Visit: Report
NDTV
In the last fiscal year, the country had paid over PKR 26 billion in interest charges to China only for using a USD 4.5 billion Chinese trade finance facility to repay the maturing debt.
Cash-trapped Pakistan is looking to secure a USD 3-billion (PKR 529 billion) loan from China and investments in half a dozen sectors during Prime Minister Imran Khan's visit to Beijing next week, according to a media report on Sunday.
Mr Khan will visit the Chinese capital on February 3 to attend the opening of the Beijing Winter Olympics and to also meet the top Chinese leadership on the sidelines for bilateral talks.
The Express Tribune reported quoting government sources that a final meeting to shape the agenda of the visit would take place on Tuesday.
A senior finance ministry official said the government was considering requesting China to approve another loan to the tune of USD 3 billion in China's State Administration of Foreign Exchange, known as SAFE deposits, so as to boost its foreign exchange reserves.