ISLAMABAD – PTI government expects the good news of financial assistance tocome after the meeting of the Joint Coordination Committee (JCC), thehighest forum of China Pakistan Economic Corridor (CPEC), this month.
According to sources, Pakistan may get at least $2 billion short-term loansfrom China after the said meeting of JCC, scheduled to commence fromDecember 20 in Beijing. The short-term lending arrangement could be madewith the Industrial and Commercial Bank of China Limited (ICBC), a Chinesemultinational banking company. It is the largest bank in China and thelargest bank in the world by total assets, deposits, loans, number ofcustomers and number of employees.
According to sources at State Bank of Pakistan (SBP), during the visit ofPrime Minister Imran Khan last month, the central bank was asked for a‘situation analysis’ for the requested financial assistance. The bank hasreportedly finalised the report which may also be discussed during theupcoming JCC meeting, they added.
China may extend help for Pakistan’s balance of payment under the CPECframework, sources claimed.