China held hands when Shahbaz government got a blow from IMF, will bad times end?

New Delhi. Pakistan is going through a period of economic crisis for a long time. The International Monetary Fund (IMF) has also imposed many big conditions for giving loans, due to which the neighboring country is dependent on grains. In the bad times of Pakistan, now its friend China has once again come together. A few days ago, China has given a loan of two billion dollars to Pakistan to get out of the economic crisis. In such a situation, the question is arising whether the economic crisis of Pakistan, which is yearning for every grain, can be overcome with the help of China?Pakistan’s Finance Minister Ishaq Dar told on Friday that China has given an amount of two billion dollars to Pakistan last week. Referring to the maturity date, Dar told the House, “I am happy to confirm that it was implemented on March 23.” All relevant documents have been completed, he added. However, the Chinese government or the Central Bank of China have not commented on this. Dar’s remarks were the first official announcement regarding the release of the debt. Dar did not specify the new maturity date or other terms of the arrangement. A top finance ministry official said a formal confirmation would be made after the process is completed. Islamabad has been in talks with the IMF since early February to release $1.1 billion out of a $6.5 billion bailout package agreed in 2019. The IMF has placed several conditions in front of Pakistan for releasing the tranche, due to which the neighboring country is facing difficulties. It is noteworthy that Pakistan and China have had good relations for a long time. Both the countries have been helping each other on various issues. Even on the issue of terrorism going on in Pakistan, China has been supporting on forums like United Nations, while Pakistan keeps giving China many development projects.IMF gave a blow to Shahbaz government The IMF has given a big blow to the Shahbaz government of Pakistan, desperate to get a loan. The International Monetary Fund (IMF) has reportedly rejected Islamabad’s initial proposal to subsidize petrol for low-income households in the cash-strapped country. Finance Ministry sources said, “The lending institution has demanded a complete scheme of petroleum subsidy from the government. The IMF has demanded a comprehensive scheme of subsidy of Rs 50 (Pakistani rupees) per liter on petroleum.” Sources said that the IMF has insisted on preparing a revised scheme of subsidy on petroleum. The International Monetary Fund reportedly has doubts about the total amount of money required for the scheme. For this reason, the IMF has asked the Pakistani government to share a comprehensive plan.