Therefore Pakistan will make interest payments only in both years.


Islamabad: Finance Minister Ishaq Dar confirmed the loan rollover by China.
In a statement on Twitter, Finance Minister Ishaq Dar said Chinese EXIM Bank has rolled over for two years principal amounts of following loans totalling US$ 2.4 billion.
The minister told that the loan is due in next two fiscal years i.e. 2023-14 and 2024-25. Therefore Pakistan will make interest payments only in both years.
Chinese EXIM Bank has rolled over for 2 years principal amounts of following loans totalling US$ 2.4 billion which are due in next 2 fiscal years:
— Ishaq Dar (@MIshaqDar50) July 27, 2023
FY2023-24: US$1.2 billion
FY2024-25: US$ 1.2 billion
Pakistan will make interest payments only in both years.
Earlier on July 18, China rolled over $600 million to Pakistan which was confirmed by Prime Minister Shehbaz Sharif.
Speaking at the ceremony in Islamabad, Shehbaz Sharif said that the economic indicators are improving with the support of friendly countries. China has rolled over 600 million dollars to Pakistan, which increased the reserves of Pakistan by 600 million dollars.

Repair of submarine cable, internet service may be affected today
- 10 minutes ago

Verizon buys the not-quite-5G wireless ISP Starry to expand wireless broadband
- 4 hours ago

Pakistan, Saudi Arabia sign MoU to strengthen anti-corruption, asset recovery cooperation
- 11 hours ago
.jpg&w=3840&q=75)
Gaza Ceasefire Agreement Signed by U.S., Egypt, Türkiye, and Qatar
- 11 hours ago

No. 1 Buckeyes 'want to be great,' cruise to 5-0
- 3 hours ago

The problems with AI in the smart home and how Amazon and Google plan to fix them
- 4 hours ago

Private Hajj scheme bookings to close at midnight on Friday
- 11 hours ago

What humans might learn from nature’s real-life zombies
- 2 hours ago

What the National Guard is doing in Chicago
- 2 hours ago

130 dead in Mexico due to torrential rains, floods
- 23 minutes ago

Follow live: Cubs aim to force Game 5 vs. Brewers
- 3 hours ago

Donald Trump wishes Pakistan, India to be best neighbors
- 19 minutes ago