ISLAMABAD: After requesting the United Arab Emirates (UAE) to roll over $2 billion in loans for Pakistan, Caretaker Prime Minister Anwaar-ul-Haq Kakar has also written a similar letter to his Chinese counterpart Li Qiang.
In his letter to China’s premier, the prime minister has requested that Beijing roll over Pakistan’s $2 billion loan for a year, sources told Geo News on Friday.
The Chinese government, according to the sources, is expected to roll over the aforementioned loan amount for a year soon. The deposit time for the loan is slated to complete on March 23, 2024.
The sources added that the officials from Pakistan’s finance ministry and authorities in China are in contact about the matter.
PM Kakar, in his letter to the Chinese premier, thanked his government for financial support, the finance ministry sources said. The sources, citing the letter, stated: “China gave a loan to the government of Pakistan in a difficult economic situation.”
A total of $4 billion worth of funds in loans, as per the sources, has been kept as a safe deposit, which has reduced Pakistan’s external payments burden.
“The refinancing of the commercial loans worth $1.3 billion and a Chinese government loan of $1 billion would help Pakistan avert immediate default,” a senior government official told The News in May 2023.
The Senator said the Chief Justice’s statement that he had received no complaint disappointed him
If this trend continues, poor consumers will have to bear an additional burden of at least Rs3.35 per unit, the power...
Maryam Nawaz on Saturday paid a visit to the Samli Syed Muhammad Hussain Government TB Sanatorium Hospital during a...
Abbasi said he had informed the PML-N leadership a year ago that he would not contest the next election from the...
Skipper Babar Azam and Fakhar Zaman stabilized Pakistan innings after early anomaly that the team faced with the...
The training primarily targeted aviation security regulatory officers and inspectors