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Islamic Trade Finance Corporation to give US$1.20 billion, says Miftah Ismail

Islamic Trade Finance Corporation to give US$1.20 billion, says Miftah Ismail
June 23, 2022 Web Desk

ISLAMABAD (92 News) – Finance Minister Miftah Ismail has said that the International Islamic Trade Finance Corporation will give Pakistan US$1.20 billion and the amount will ensure the continuity of the petroleum supply.

Addressing a news conference along with Minister for Information and Broadcasting Marriyum Aurangzeb, he said that the financial situation of the country is stable now. “The government has provided relief to poor people by shifting burden of tax on rich people. Tax would be further increased on rich people having income above 150 million rupees.”

Earlier, Miftah Ismail had said that the Chinese consortium of banks has signed the RMB 15 billion (~$2.3 billion) loan facility agreement after it was signed by the Pakistani side. Inflow is expected within a couple of days. We thank the Chinese government for facilitating this transaction.