Pakistan to pay back $500 mil to China: Dar
Finance Minister said, "PM Nawaz directed authorities to pay back the amount to China on January 23"
ISLAMABAD (Dunya News) – Ishaq Dar issued a statement on Tuesday from the federal capital Islamabad that Prime Minister Nawaz Sharif has directed authorities to return $500 million back to China on January 23, reported Dunya News.
Reports stated that Nawaz Sharif praised the role of China in Pakistan s period of crisis. Pakistan had earlier requested this amount way back in 2009 for foreign exchange. It was told that Pakistan will be returning the amount back to China on January 23 without profit.
Previously, a session was chaired by Finance Minister Ishaq Dar to overview Pakistan’s economic performance. The session discussed economic strategy for the coming five years.
A law also came under discussion which is to lessen the debt in economy by 60 percent. The Finance Minister claimed that fiscal deficit is being decreased continuously and it will be restricted to 3.5 percent at the end of this year.
“We will make such a strategy that debts become only 50 percent of our economy”, Ishaq Dar added. Within the next 15 years, he believes that debts will be brought within 50 percent of the country’s economy.
