PM Kakar requests Chinese counterpart to rollover $2bn loan

Caretaker Prime Minister Anwaar-ul-Haq Kakar Friday wrote a letter to his Chinese counterpart Li Qiang, requesting him to rollover Pakistan’s $2 billion loan for a year, sources told Geo News.

According to the sources, the Chinese government 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 with regards to 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.