Pakistan in dire need of $2 billion, China as last available option
Shares
ISLAMABAD: Pakistan current account deficit had swelled to $14.035 billion in the first 10 months resulting into slashing down of foreign currency reserves.
Pakistan is looking towards China as the last available option with expectations of receiving $01 to $02 billion on account of safe deposits before June 30, 2018, reported *The News*.
If China does not rescue Islamabad, then there will be no other choice but to knock at the door of the IMF as lender of last resort for all countries facing balance of payment crisis and avoiding default on external payment position.
When Federal Minister for Finance Dr Miftah Ismail was contacted for seeking his comments on Friday, he said that there was a month of heavy repayments to foreign institutions after which the foreign currency reserves declined.
