ISLAMABAD – Pakistan has requested China to rollover a $2 billion loan for one year as the South Asian country is facing financial crunches.
Reports said caretaker Prime Minister Anwaarul Haq Kakar has written a letter to China’s Premier Li Keqiang requesting to rollover a $2 billion loan.
In the letter, Pakistan has requested the neighbouring country to defer the repayment of a loan from China for one year.
The tenure for $2 billion deposits is expected to mature on March 23, 2024. As the deadlines approaches closer, Pakistani authorities have also held talks with Chinese counterparts.
Reports said the prime minister in the letter thanked China for the financial cooperation and supporting Pakistan in alleviating the burden of external payments on the government of Pakistan.
Earlier this year, the United Arab Emirates (UAE) rolled over $2 billion loan to Pakistan.
