Shahbaz Sharif will negotiate with Chinese banks for a loan of 600 million dollars, China had strict conditions for the loan from the Bank of China, Industrial & Commercial Bank.
According to the details, during the visit to China, Prime Minister Shahbaz Sharif and Finance Minister Muhammad Aurangzeb will negotiate with Chinese banks for a loan of 600 million dollars, the loan will be from Commercial Bank China and Industrial and Commercial Bank.
Sources said that negotiations for a loan of 600 million dollars from the two Chinese banks for the current fiscal year had failed, China had strict conditions for the loan from the Bank of China, Industrial and Commercial Bank.
The Prime Minister and the Finance Minister will request Chinese banks to remove the strict conditions for loans.
According to the sources, the new loan from the Chinese banks was conditional on the payment schedule of the Chinese IPPs & the condition was also imposed by both the Chinese banks for the loan at a high-interest rate of up to 8%. Sources say that the government of Pakistan has continued to consult for this loan from July 2023, now efforts are being made to get the loan for the next financial year.
