{"id":48036,"date":"2019-01-25T14:29:53","date_gmt":"2019-01-25T14:29:53","guid":{"rendered":"https:\/\/www.zameen.com\/blog\/?p=48036"},"modified":"2020-01-27T07:50:50","modified_gmt":"2020-01-27T07:50:50","slug":"china-financing-deal-to-be-finalised-soon","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/china-financing-deal-to-be-finalised-soon.html","title":{"rendered":"China financing deal to be finalised soon"},"content":{"rendered":"<p>Islamabad: Finance Minister Asad Umar has stated that the China financing deal will be finalised soon, a news source reported. Attending a press briefing, he said that several positive things will unfold in the coming two to three weeks. He further informed that the government is in no urgency to turn to the International Monetary Fund (IMF).<\/p>\n<p>Read:\u00a0<a href=\"https:\/\/www.zameen.com\/news\/china-to-provide-usd-1-bn-grant.html\" target=\"_blank\" rel=\"noopener noreferrer\">China to provide USD 1 billion grant<\/a><\/p>\n<p>The minister stated that Pakistan collaborates regularly with the IMF, with both sides having resolved several of their differences recently. Moreover, Pakistan\u2019s credit default swap position has improved in the international market, he noted.<\/p>\n<p>A question was posed regarding the government\u2019s decision to borrow from friendly countries at much higher interest rates as compared to offers made by the International Finance Corporation (IFC). Umar refuted the observation, and said that the going interest rate was only 3% on funds borrowed from the UAE and Saudi Arabia.<\/p>\n<p>The minister was further asked about the IFC\u2019s offer to provide a zero percent interest rate facility. He replied that the IFC had made no such provisions, and said that Pakistan is currently borrowing funds from China at much lower rates.<\/p>\n<p>Read:\u00a0<a href=\"https:\/\/www.zameen.com\/news\/yuan-based-trade-with-china-begins.html\" target=\"_blank\" rel=\"noopener noreferrer\">Yuan-based trade with China begins<\/a><\/p>\n<p>Advisor on Commerce and Textile, Abdul Razak Dawood, also attended the press briefing. He informed that the government has successfully finalised the trade agreement with China. Both sides are soon going to discuss the details pertaining to the exports of sugar, rice, and textile.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: Finance Minister Asad Umar has stated that the China financing deal will be finalised soon, a news source reported. Attending a press briefing, he said that several positive things will unfold in the coming two to three weeks. He further informed that the government is in no urgency to turn to the International Monetary Fund (IMF). Read:\u00a0China to provide USD 1 billion grant The minister stated that Pakistan collaborates regularly with the IMF, with both sides having resolved several of their differences recently. Moreover, Pakistan\u2019s credit default swap position has improved in the international market, he noted. A question was posed regarding the government\u2019s decision to borrow from friendly countries at much higher interest rates as compared to offers made by the International Finance Corporation (IFC). Umar refuted the observation, and said that the going interest rate was only 3% on funds borrowed from the UAE and Saudi Arabia. The minister was further asked about the IFC\u2019s offer to provide a zero percent interest rate facility. He replied that the IFC had made no such provisions, and said that Pakistan is currently borrowing funds from China at much lower rates. Read:\u00a0Yuan-based trade with China begins Advisor on Commerce and&hellip;<\/p>\n","protected":false},"author":68,"featured_media":47307,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15012],"tags":[10096],"persona":[],"class_list":{"0":"post-48036","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-allied-industries","8":"tag-details-on-china-financing-deal-to-be-finalised-soon","9":"cat-15012-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>China financing deal to be finalised soon - Zameen News<\/title>\n<meta name=\"description\" content=\"Islamabad: Finance Minister Asad Umar has stated that the China financing deal will be finalised soon, a news source reported. Attending a press briefing,\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/china-financing-deal-to-be-finalised-soon.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"China financing deal to be finalised soon - Zameen News\" \/>\n<meta property=\"og:description\" content=\"Islamabad: Finance Minister Asad Umar has stated that the China financing deal will be finalised soon, a news source reported. 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Attending a press briefing,","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.zameen.com\/news\/china-financing-deal-to-be-finalised-soon.html","og_locale":"en_US","og_type":"article","og_title":"China financing deal to be finalised soon - Zameen News","og_description":"Islamabad: Finance Minister Asad Umar has stated that the China financing deal will be finalised soon, a news source reported. Attending a press briefing,","og_url":"https:\/\/www.zameen.com\/news\/china-financing-deal-to-be-finalised-soon.html","og_site_name":"Pakistan Real Estate News &amp; Pakistan Property News &amp; Latest Updates - Zameen News","article_publisher":"https:\/\/www.facebook.com\/ZameenPK","article_published_time":"2019-01-25T14:29:53+00:00","article_modified_time":"2020-01-27T07:50:50+00:00","og_image":[{"width":600,"height":350,"url":"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2019\/01\/Asad-Umar.jpg","type":"image\/jpeg"}],"author":"Safina Sultan","twitter_card":"summary_large_image","twitter_creator":"@ZameenProperty","twitter_site":"@ZameenProperty","twitter_misc":{"Written by":"Safina Sultan","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"NewsArticle","@id":"https:\/\/www.zameen.com\/news\/china-financing-deal-to-be-finalised-soon.html#article","isPartOf":{"@id":"https:\/\/www.zameen.com\/news\/china-financing-deal-to-be-finalised-soon.html"},"author":{"name":"Safina Sultan","@id":"https:\/\/www.zameen.com\/news\/#\/schema\/person\/0f7ad58ef43a9c16d70bfd31d586f512"},"headline":"China financing deal to be finalised soon","datePublished":"2019-01-25T14:29:53+00:00","dateModified":"2020-01-27T07:50:50+00:00","mainEntityOfPage":{"@id":"https:\/\/www.zameen.com\/news\/china-financing-deal-to-be-finalised-soon.html"},"wordCount":250,"commentCount":0,"publisher":{"@id":"https:\/\/www.zameen.com\/news\/#organization"},"image":{"@id":"https:\/\/www.zameen.com\/news\/china-financing-deal-to-be-finalised-soon.html#primaryimage"},"thumbnailUrl":"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2019\/01\/Asad-Umar.jpg","keywords":["details on China financing deal to be finalised soon"],"articleSection":["Allied Industries"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.zameen.com\/news\/china-financing-deal-to-be-finalised-soon.html#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.zameen.com\/news\/china-financing-deal-to-be-finalised-soon.html","url":"https:\/\/www.zameen.com\/news\/china-financing-deal-to-be-finalised-soon.html","name":"China financing deal to be finalised soon - Zameen News","isPartOf":{"@id":"https:\/\/www.zameen.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.zameen.com\/news\/china-financing-deal-to-be-finalised-soon.html#primaryimage"},"image":{"@id":"https:\/\/www.zameen.com\/news\/china-financing-deal-to-be-finalised-soon.html#primaryimage"},"thumbnailUrl":"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2019\/01\/Asad-Umar.jpg","datePublished":"2019-01-25T14:29:53+00:00","dateModified":"2020-01-27T07:50:50+00:00","description":"Islamabad: Finance Minister Asad Umar has stated that the China financing deal will be finalised soon, a news source reported. 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