ISLAMABAD – Prime Minister Shehbaz Sharif revealed on Monday that the EximBank of China had rolled over $600 million loan to Pakistan amid economicwoes.
The premier stated this while addressing the launching ceremony of thePrime Minister’s Youth Sports Initiative in the federal capital. He saidthe country’s foreign exchange reserves had further increased by $600million.
He said the foreign exchange reserves were increasing but “we want to do itnot through loans but boosting our income”.
He said the youth of the country has the potential to excel and take thecountry forward in the fields of sports, Information Technology, industriesand the agriculture.
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He also paid tributes to the athletes for earning fame for Pakistan throughtheir outstanding performances at international forums. He said thegovernment has allocated Rs5 billion in the budget to meet the necessaryexpenditures in connection with promotion of sports in the country.
PM Shehbaz said if provided with the opportunity after the elections, theywill allocate more resources for education, skills development andpromotion of sports.