ISLAMABAD
\nFinance Minister Ishaq Dar has expressed the confidence that economic and diplomatic ties between Pakistan and China will touch new heights in the time to come. Addressing the opening ceremony of Bank of China, Islamabad branch on Monday, he said China had always supported Pakistan at world forums.
\n\u201cRenminbi (RMB) would soon become an internationally adopted parallel currency,\u201d he said. He said China was Pakistan\u2019s time-tested friend. Dar especially thanked China and its financial institutions for extending tremendous financial support to Pakistan during the difficult times.
\nIshaq Dar said that it was a historic movement as six years ago he had handed over the license for opening of the bank\u2019s first branch to its President in Belgium. Now, it\u2019s a big coincidence that BOC was opening its second branch, which he said was a great privilege for him to witness.
\nThe minister congratulated BOC President and his team for extensive efforts in opening the branch and also appreciated cooperation by Pakistan authorities and finance ministry in this regard. The minister also congratulated Deputy Governor Peoples Bank of China, his team and officials of China embassy.
\nIshaq Dar said that BOC, Industrial and Commercial Bank of China (ICBC), China Development Bank and Peoples Bank of China were all great financial partners of Pakistan.
\nHe said Pakistan had been passing through a turbulence phase during the last one year and extended heartfelt appreciations to Chinese Ministry of Finance, Ministry of Foreign Affairs, Peoples Bank of China and Chinese Commercial Banks for supporting Pakistan to overcome difficulties.
\nHe said Pakistan was out of the turbulence phase as recently one of the rating agencies had upgraded ratings for the country, which he said was now moving from stability to growth again.
\nHe expressed the hope that Renminbi (RMB) was going to be internationalized soon adding five countries have already formalized the currency and more countries were planning to do so. He said it would become a parallel international acceptable currency and congratulated Deputy Governor BOC in advance.
\nHe said that BOC Deputy Governor shared that Pakistan was already benefiting from RMB adding that during his (Dar\u2019s) last visit to China under the leadership of Prime Minister Mian Muhammad Shehbaz Sharif, he had proposed enhancement of facility upto RMB 40 billion.
\nHe expressed the hope that cooperation between the two countries in terms of economic and diplomatic ties would reach to new heights. He said both the countries were helping each other on all international and domestic issues in the world forum like United Nations Security Council, UN General Assembly and all other forums. <\/p>\n","protected":false},"excerpt":{"rendered":"
ISLAMABAD Finance Minister Ishaq Dar has expressed the confidence that economic and diplomatic ties between Pakistan and China will touch new heights in the time to come. Addressing the opening ceremony of Bank of China, Islamabad branch on Monday, he said China had always supported Pakistan at world forums. \u201cRenminbi (RMB) would soon become an […]<\/p>\n","protected":false},"author":2,"featured_media":340599,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[1925],"class_list":{"0":"post-346471","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-ishaq-dar"},"yoast_head":"\n