Second installment of $500m from China bank will be received soon: Dar

Finance Minister Ishaq Dar has announced that Pakistan will soon receive second installment of $500 million from a Chinese bank, reported 24NewsHD TV channel.

In a tweet uploaded on Thursday, the finance minister “Out of Chinese ICBC’s approved rollover facility of US$1.3 billion (which was earlier repaid by Pakistan to ICBC in recent months), documentation for second disbursement of US$500 million has been completed by Finance Ministry for release of funds to the State Bank of Pakistan!”

Out of #Chinese ICBC’s approved rollover facility of US$1.3 billion (which was earlier repaid by Pakistan to ICBC in recent months), documentation for second disbursement of US$500 million has been completed by Finance Ministry for release of funds to the State Bank of Pakistan!

— Ishaq Dar (@MIshaqDar50) March 16, 2023

Earlier in the day, Ishaq Dar has assured the Upper House of the Parliament that details of the staff-level agreement with the International Monetary Fund (IMF) will be made public.

Speaking in the Senate Committee of the Whole, Ishaq Dar said once the agreement is signed, it will be put on the website of the Finance Ministry for review of the general public and nothing will be concealed.

The Finance Minister said he believes in transparency and fiscal discipline in the country. Responding to points raised earlier in the Committee, he said nobody in Pakistan can compromise the nuclear and missile assets of the country.

He further said we are a sovereign nation and nobody in the world has the right to tell us what range of missiles we should have. 

Earlier speaking on the floor of the Senate, the PPP leader Raza Rabbani said the Parliament must exert its authority to prevent other forces from indulging in the affairs of the legislature. He said the Parliament should not bow before the dictates from any quarters.

Jamaat-e-Islami leader Mushtaq Ahmed Khan said Parliament should become the center of the aspirations of the people of Pakistan to strengthen true democracy in the country. 

EU Ambassador Dr Riina Kionka said elected bodies ensure people's power, governance and rule of law. She said democracy is the core value of the European Union. She also congratulated the Senate of Pakistan on its Golden Jubilee.

The High Commissioner of South Africa said late South African leader Nelson Mandella had decided to visit Pakistan twice.

He said his country acknowledges Pakistan's contribution to the cause of peace.

He called for more engagements between Pakistan and African countries. He appreciated Pakistan's "Look Africa Policy".

Former Senator Sana Baloch said implementation of Constitution in letter and spirit is a panacea to make Pakistan a progressive country.

He said the Parliament should play its role in addressing concerns of the smaller provinces in light of the Constitution. He said the Parliament should also think about addressing reservations of Balochistan.

Ex-Senator Zahid Khan said the country cannot move forward without establishing the supremacy of the Parliament. He urged the politicians to play their due role in this regard.

Senator Sarfaraz Bugti said the Senate should be given financial power and it must have a say over passage of the money bill. He also urged politicians to sit on the dialogue table and agree on a minimum agenda to strengthen the Parliament.

Jordan Ambassador to Pakistan Ibrahim Yala Al Madani extended congratulations to the leadership and people of Pakistan for celebrating 50 years of the Senate of Pakistan.

He said Pakistan and Jordan enjoy brotherly relations based on solid foundation, mutual respect and joint cooperation on political and military aspects.

Palestine Ambassador Ahmed Rabei appreciated Pakistan’s support to Palestine issues. He retained the point of views of Quaid-e-Azam Muhammad Ali Jinnah and Allama Muhammad Iqbal regarding Palestine. 

Senator Mushahid Hussain Syed said the Senate had taken a bold stance on various foreign affairs and national issues in the past including Iraq war, Balochistan affairs and climate matters.

He said the Senate would continue to play a significant role for protecting the interests of the country as per aspirations of the people.

Mushahid Hussain Syed said it is responsibility of both the government and the opposition to play their role in strengthening democracy.

Maulana Abdul Ghafoor Haideri emphasized the need to revisit the current justice system and complete prohibition of the doctrine of necessity. He demanded financial powers for the Upper House.

Ambassador of Yemen Muhammad Motahar Alashabi said Pakistan is an important country of the Islamic world and the global community.

He said both Yemen and Pakistan enjoy cordial relations and have common views on various issues. He prayed for further prosperity for the people of Pakistan.

Sardar Muhammad Shafiq Tareen called for strengthening the Upper House to safeguard rights of the smaller provinces. He said the objective of addressing reservations of the federating units cannot be achieved without giving more powers to the Senate.

Mauritius Ambassador Rashidally Soobadar said freedom of movement, expression and worship is the core of democracy.

He said 70 percent of the world population lives under autocracy and only a 30 percent of the world population enjoys the blessings of democracy. He said Mauritius has built a cohesive society through the parliament.