SBP to receive $300 mln from ICBC today: Dar

Dar gets briefing on FBR’s revenue targets, performance

ISLAMABAD, Apr 14 (APP):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.

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