Foreign Secretary Asad Majeed Khan reaches China

ISLAMABAD: Foreign Secretary Dr Asad Majeed Khan has reached China where he will hold a meeting with the Chinese Foreign Minister Qin Gang, citing sources, ARY News reported.

Foreign Secretary Dr Asad Majeed Khan paid a visit to China where he will hold discussions with the Chinese leadership about the financial troubles to Pakistan.

Khan will meet the Chinese Foreign Minister Qin Gang on Friday (today). Both countries will also hold political dialogues which will be jointly chaired by Dr Khan and the Chinese Vice Foreign Minister Sun Weidong.

READ: ANOTHER $500M FROM CHINESE BANK TO BE RECEIVED SOON: ISHAQ DAR

On Thursday, Finance Minister Ishaq Dar said that the Ministry of Finance has completed documentation for the second disbursement of $500 million from the Industrial and Commercial Bank of China (ICBC).

“Out of Chinese ICBC’s approved rollover facility of US$1.3 billion (which was earlier repaid by Pakistan to ICBC in recent months), documentation for second disbursement of US$500 million has been completed by Finance Ministry for release of funds to the State Bank of Pakistan,” he said in a tweet.

Earlier this month, Pakistan received $500 million from the Industrial and Commercial Bank of China Ltd (ICBC).

The friendly country has extended the tranche after Islamabad fulfilled almost all the tough conditions for the revival of the IMF loan programme.