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$500m from China for Pakistan

Discussion in 'Chinese Defence Forum' started by Omar1984, Jan 26, 2009.

  1. Omar1984

    Omar1984 ELITE MEMBER

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    $500m from China for Pakistan

    LAHORE: China on Saturday released $500 million to Pakistan to improve the country’s foreign currency reserves, a private TV channel reported. The Reserve Bank of China transferred the amount to the State Bank of Pakistan, the channel said. It quoted Finance Ministry officials as saying that Pakistan’s foreign exchange reserves currently stood at $10.2 billion after China released the amount. daily times monitor


    Daily Times - Leading News Resource of Pakistan

    Thank you China. No Pakistani will ever forget all that China has done for Pakistan.

    Long Live China-Pakistan Friendship :china::pakistan:
     
  2. TruthSeeker

    TruthSeeker PDF THINK TANK: ANALYST

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    The article doesn't say if it is a loan or a grant. Probably a loan......
     
  3. ThePatriotReport

    ThePatriotReport PDF THINK TANK: CONSULTANT

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    We can always count on them for support. And a few days back a couple of "Haters" were all caught up with how China's not helping us with our problems any more.

    God bless china! f9bba6566c01dd67e73f65888b8b06c8.gif
     
  4. metalfalcon

    metalfalcon SENIOR MEMBER

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    Yes you are right but we need to increase our foreign reserve and this money will count a lot at Critical times. USA Paid us just 101 Million for WOT co-operation for April 2008 to January 2009.
     
  5. Fennecus

    Fennecus FULL MEMBER

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    It's a loan, most likely a low-interest one.
     
  6. Omar1984

    Omar1984 ELITE MEMBER

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    Pakistan gets another $500m from China

    Sunday, January 25, 2009
    By By Khalid Mustafa

    ISLAMABAD: Pakistan received another tranche of $500 million from China here on Saturday to further strengthen the foreign reserves position.

    With injection of $500 million in deposits of the State Bank of Pakistan, the foreign exchanges reserves would swell to $10.2 billion, a senior official in the ministry of finance told The News. Syed Wasim, Spokesman of State Bank of Pakistan, the country earlier received the same amount of $500 million in June 2008 meaning by that Beijing has provided sigh of relief by giving $1 billion from June 2008 till now for purely strengthening the foreign reserves of the country.

    To a question, he said the central bank some time in the middle of the Musharraf’s regime has also received $500 million in support of reserves and paid back some of the principle amount. Right now, after paying back some of the amount to China, the bank possesses Chinese relief of $1.3 billion. The official said the SBP right now retains $10.2 billion out of which commercial banks have $3.3 billion. The official said the SBP received $3.1 billion from the International Monetary Fund so far out of its bailout package of $7.6 billion.

    The official said it is Beijing, which proved that Pak-China friendship is stronger than Himalayas’ peaks.

    Pakistan gets another $500m from China

    Pakistanis are grateful to you China.
    LONG LIVE PAKISTAN-CHINA FRIENDSHIP :pakistan::china:
     
  7. omerhhh

    omerhhh FULL MEMBER

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    A loan or a grant either way the money is very useful.China is i beleive pakistan's best ally.The U.S only backs pak up a bit because of the war in afghanistan.

    LONG LIVE CHINA-PAKISTAN FRIENDSHIP!!!!

    :china::pakistan::yahoo:
     
  8. Patriot

    Patriot ELITE MEMBER

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    Thanks China :china:
     
  9. cherryerror

    cherryerror FULL MEMBER

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    $500m loan or grant from china is not enough for our neighbour Pakistan government who is in financial difficulties at the moment. I think it is more like a posture, an action on the surface, you know, due to a variety of reasons. However, in private Chinese government would and should offer more help to Pakistan in financial field.
     
    Last edited: Jan 31, 2009
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  10. TOPGUN

    TOPGUN PDF THINK TANK: ANALYST

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    Thankyou China our good friend !!
     
  11. IceCold

    IceCold PDF VETERAN

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    Instead of cheering for the loan that we got, we need to push GOP to start working so that these situations doesn't rise again where we need to ask for loans and aids. Nothing comes for free and we by now should understand this fact that its high time for Pakistan to stand on its own rather then relying on allies and friends.
     
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  12. ju87

    ju87 BANNED

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    lol $500m. That's probably Anil Ambani's pocket money.
     
  13. Jihad

    Jihad SENIOR MEMBER

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    And the winner of todays bad joke contest is...........
     
    Last edited: Jan 31, 2009
  14. roadrunner

    roadrunner PDF THINK TANK: CONSULTANT

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    Yes, but there's only one or two of them in India, and they can buy the government.
     
  15. Omar1984

    Omar1984 ELITE MEMBER

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    Why doesn't he help the millions in India living below the poverty line then?
     
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