Support of friends again for poor Pakistan, will China and Iran be able to save it from ruin? - Newztezz Online


Saturday, February 25, 2023

Support of friends again for poor Pakistan, will China and Iran be able to save it from ruin?

Pakistan has now reached such a situation that to bring its faltering economy back on track, it has to once again look towards its friends.

These days Pakistan is facing severe economic crisis and it is waiting for some miracle to overcome this crisis. Pakistan is looking for such a messiah who can bring its faltering economy back on track and save it from ruin. In such a situation, now Pakistan is once again forced to look towards its friends. The situation of Pakistan at this time is such that it does not have foreign exchange reserves left to import even for a month. In such a situation, to get Pakistan out of this crisis, its old friends China and Iran have come forward.

Pakistan has received the much-awaited US $ 700 million aid from China ahead of finalizing talks with the International Monetary Fund (IMF) for economic assistance. Finance Minister Ishaq Dar has confirmed this on social media. Dar tweeted, 'State Bank of Pakistan' received $700 million funding from 'China Development Bank' today. After this, Prime Minister of Pakistan Shehbaz Sharif expressed his gratitude towards the 'special friend'.

Pakistan's foreign exchange reserves will increase by 20 percent

Addressing the security meeting, he said, 'Pakistan has an ally country, we all were thinking that they were waiting for the IMF agreement and then they would play their part but that ally country told us a few days ago that 'we Giving you financial help directly. These things can never be forgotten. At the same time, Iran is promoting trade with Pakistan.

The loan given from China Development Bank will increase Pakistan's foreign exchange reserves by about 20 percent. This help has been done by China at a time when Pakistan has been trying for a long time to take a loan from the International Monetary Fund.

Iran promoting business

Iran is promoting trade with Pakistan amid financial crisis. Pkrevenue quoted Iran's Consul General Hasan Nooren as saying that Iran has set up six border markets to boost trade with crisis-hit Pakistan. Bilateral trade volume has reached $2 billion in the last 10 months, he said, adding that a target has been set at $5 billion.

At the same time, Uzbekistan has also extended a helping hand towards Pakistan. Uzbekistan signed a $1 billion agreement to increase bilateral trade with Pakistan at the 8th meeting of the Pakistan-Uzbekistan Inter-Governmental Commission on Trade-Economic and Scientific-Technical Cooperation (IGC) held in Tashkent on Friday.

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