Pakistan requests China to rollover $2 billion

Islamabad: Pakistan has requested its long-time friend and neighbor China to rollover a debt of two billion dollars, reportedly.

According to the media reports, Caretaker Prime Minister Anwaar-ul-Haq Kakar has written a letter to Chinese Prime Minister Li Qiang requesting to roll over the debt of $2 billion.

It is also reported that Pakistan has requested China in the letter to postpone the loan for one year and the loan of $2 billion from China is likely to be rolled over soon for one year.

The deposit time for China's $2 billion loan will be completed on March 23, 2024.

There have been contacts between the Ministry of Finance and the Chinese authorities to roll over the deposit of two billion dollars soon.

According to the Ministry of Finance, the caretaker prime minister also thanked China for the financial support saying that China had paid the debt to the government of Pakistan in a difficult economic situation.

China has given a loan of four billion dollars to Pakistan as a safe deposit, reportedly. By receiving a loan of $4 billion from China, the burden of external payments has been reduced on Pakistan.

It is pertinent to note that a few days ago the United Arab Emirates (UAE) also rolled over a loan of two billion dollars for Pakistan.