Ishaq Dar reiterates the govt’s resolve to ensure timely payment of all external liabilities

ISLAMABAD, June 17 (SABAH): Minister for Finance and Revenue Senator Mohammad Ishaq Dar says Pakistan will soon receive one billion dollars loan from China.

Addressing a news conference in Islamabad on Saturday, Ishaq Dar said the loan will be obtained under state to state agreement.

He said Pakistan repaid one billion dollars of China Development Bank and 300 million dollars of Bank of China this month. He said Pakistan was not charged with any fine for early repayment.

The Minister said after repayment of loans Pakistan received one billion dollars loan from China Development Bank on Friday. He said Pakistan will also receive 300 million dollars from Bank of China in coming few days.

He reiterated the government’s resolve to ensure timely payment of all external liabilities.

The Finance Minister clarified that Shell Petroleum Company is not closing its business in Pakistan. He said the company is selling its shares to another international investor. Ishaq Dar said that the matter was in the knowledge of the government from last several months, adding that now the company has given notice to Pakistan Stock Exchange regarding sale of its shares. He said that the new international company which will purchase the shares is intended to continue business with the same name in Pakistan.