Amid severe financial crisis, Pakistan has decided to seek loans from various countries. The country has sought loans from China, Russia and Kazakhstan.
The loan from China is for strengthening the foreign exchange reserves of Pakistan. Reports suggest that the country plans to borrow three billion US dollars from China. As part of this, the Pakistani Prime Minister Imran Khan will depart for Beijing soon. During his visit, he will sign an agreement with China, for a loan of three billion dollars. The agreement is for a period of one year. Discussions on winter Olympics and other security matters will also take place.
Pakistan will also sign the agreements to seek loans from countries namely Kazakhstan and Russia. The country plans to borrow two billion US dollars each from Kazakhstan and Russia. The money will be used for Pakistan’s largest railway project Main Line-one (ML-1). Meanwhile, the finance ministry of Pakistan has not yet confirmed the reports about seeking loans.
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