ISLAMABAD, Apr 14 (Alliance News):The State Bank of Pakistan (SBP) will receive back third and last disbursement today in its account amounting to $ 300 million from Industrial and Commercial Bank of China (ICBC), which will strengthen local foreign exchange reserves.
In a Tweet on Friday, Minister for Finance and Revenue Senator Muhamme Ishaq Dar said that out of Chinese Bank’s ICBC approved facility of $1.3 billion (which was earlier repaid by Pakistan), State Bank of Pakistan would receive back third and last disbursement today in its account amounting to $ 300 million.
It will shore up forex reserves of Pakistan, he added.