Dar took to his Twitter to make the announcement. He wrote: "AlhamdoLilah! Funds USD 700 million received today by State Bank of Pakistan from China Development Bank".
According to the Geo-politik, Pakistan, which has severely mismanaged its economy, has now used the pretext of flood devastation and consequent humanitarian crisis to get international assistance.
The country owes almost one-third of its external debt to China, which is facing criticism for its debt trap diplomacy globally. The Pakistan regime has always ignored the people of the country while spending huge amounts of money on acquiring military equipment.
On Monday, the Pakistan State Bank issued the latest data, showing the FDI fell to USD 348.3 million in July-October FY23 from USD 726.5 million during the same period of the last fiscal year (FY22), the Dawn newspaper reported.
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Islamabad [Pakistan], October 19 (ANI): Battered by the unprecedented floods, cash-strapped Pakistan is looking for additional funds to rebuild the country after the natural disaster pushed its economy to the brink.
Islamabad [Pakistan], September 22 (ANI): A majority of Pakistanis are unhappy with the government's response to the unprecedented natural disaster that has ravaged millions of lives in the cash-strapped country, according to a survey.
Islamabad [Pakistan], September 21 (ANI): Pakistan's rejection of Bangladeshi aid amid devastating floods and heavy monsoons, has set off a heated debate in the cash-strapped country.
Islamabad [Pakistan], September 3 (ANI): Pakistan is planning to reach out to global lenders for monetary assistance to deal with devastating floods in the country, local media reported on Saturday.
Islamabad [Pakistan], September 1 (ANI): As Pakistan struggles to deal with the devastating flood situation, the cash-strapped country is mulling another emergency loan from the International Monetary Fund (IMF), days after it managed to secure the much-needed bailout package to avert an imm
Islamabad [Pakistan], August 29 (ANI): The International Monetary Fund (IMF) will meet the top officials of cash-strapped Pakistan on Monday to consider a bailout package as the country continues to face several economic hardships.