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Pak concedes to China’s demand for revolving bank account

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Pak concedes to China’s demand for revolving bank account

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Islamabad:Pakistan has caved in to Chinas demand for opening a revolving bank account that would partially save Chinese power plants from circular debt, but it may cause concern among officials of the International Monetary Fund (IMF), according to a media report.It also allowed import of 580,000 tonnes of wheat at a price of $372 per tonne, excluding the incidental and transportation charges, which would cost the national exchequer a minimum of $216 million, Express Tribune reported.Wheat import will cost a total of $224 million after including the incidental charges.The decisions were taken by the Economic Coordination Committee (ECC) of the cabinet that stamped a second government-to-government wheat contract with a Russian state-owned supplier. Finance Minister Ishaq Dar chaired the ECC meeting.


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By AgencyPosted on December 7, 2022
Pak concedes to China's demand for revolving bank account

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