ISLAMABAD : June 16,2023: Finance minister , Ishaq Dar , on Friday said Pakistan has received a loan amounting to $ 1 billion . Within hours after Mr Dar’s statement , the State Bank of Pakistan (SBP) also confirmed transfer of $ 1 billion by China Development Bank in its consolidated account. Pakistan had paid back a loan of $ 1 billion to China Development Bank a couple of days ago and both China and Islamabad had a wider understanding that the former will re-loan the same amount to Pakistan for another term. With the International Monetary Fund (IMF) policy of delaying resumption of its 9th review for release of an installment of $ 1 2 billion , Islamabad ‘s dependence on Beijing has increased manifold . Islamabad has development strong feelings that IMF was playing a dirty game with it to add to its the on-going financial woes and finally pave way for default . Shahbaz Sharif’s government is publicaly scolding IMF for unnecessary delaying revival of its programme and release of funds under this programme . The Shahbaz government’s Fiance minister , Ishaq Dar , is continuously blaming IMF of overdoing in its demands to resume suspended programme . Since February 2023 , Pakistan is struggling to convince to IMF that its policy of attaching bitting conditions with revival of 9th review was aggravating its financial crisis, but it’s yet to understand emergency need of Islamabad . Receiving of $1 billion from China will give much-needed relief to Islamabad , besides pushing its forex reserves to a reasonable level. Pakistan’s forex reserves are depleting due to its imports and it needed some quick inflow of funds to strengthen reserves .
