ISLAMABAD: Pakistan has sought the support of the Chinese ambassador for securing the rollover of State Administration of Foreign Exchange (SAFE) deposits of $2 billion due in March 2023.
Pakistan will have to secure a rollover of $2 billion in SAFE deposits to materialise financing requirements under the IMF programme for the current fiscal year.
According to an official announcement made by the Ministry of Finance here on Friday, Nong Rong, Ambassador of the People’s Republic of China, called on Finance Minister Ishaq Dar here at the Finance Division.
Dar extended a warm welcome to the ambassador and highlighted deep-rooted friendship and brotherly relations between Pakistan and China.
He apprised the ambassador of the damages caused by the unprecedented floods in Pakistan affecting the infrastructure, agriculture, lives and properties and cost to the economy at large. He expressed gratitude to the Chinese government for extending all out support to the government and people of Pakistan in this hour need.
He also appreciated the support extended by the Chinese leadership in refinancing of syndicate facility of RMB 15 billion ($2.24 billion) to Pakistan and further sought support of the ambassador in facilitating roll-over of SAFE China deposits of $2 billion in March 2023.
Referring to CPEC, Dar said that it would play an important role in taking Pakistan’s economy forward as well as cementing the bilateral relationship between both the countries. He assured his full support for the assistance making CPEC a successful.
Chinese envoy Nong Rong extended his felicitations to the minister on assuming his new responsibilities.