Islamabad:
Cash-trapped Pakistan is looking to secure a USD 3-billion (PKR 529 billion) loan from China and investments in half a dozen sectors during Prime Minister Imran Khan's visit to Beijing next week, according to a media report on Sunday.
Mr Khan will visit the Chinese capital on February 3 to attend the opening of the Beijing Winter Olympics and to also meet the top Chinese leadership on the sidelines for bilateral talks.
The Express Tribune reported quoting government sources that a final meeting to shape the agenda of the visit would take place on Tuesday.
A senior finance ministry official said the government was considering requesting China to approve another loan to the tune of USD 3 billion in China's State Administration of Foreign Exchange, known as SAFE deposits, so as to boost its foreign exchange reserves.
China has already placed around USD 11 billion (PKR 1.940 trillion) with Pakistan in the shape of commercial loans and foreign exchange reserves support initiatives, including USD 4 billion (PKR 705 billion) in SAFE deposits.
The Chinese money is part of the country's current official foreign exchange reserves recorded at USD 16.1 billion (PKR 2.8 trillion).
In the last fiscal year, the country had paid over PKR 26 billion in interest charges to China only for using a USD 4.5 billion (PKR 794 billion) Chinese trade finance facility to repay the maturing debt.
Last month, Pakistan also received a loan from Saudi Arabia of USD 3 billion (PKR 529...
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