Pakistan request to china: Pakistan’s economic condition is not taking the name of improving. The neighboring country is unable to repay the debt taken from China and is requesting to resure it. Pakistan has requested China to reconstruct a $ 3.4 billion loan for two years to bridge the International Monetary Fund (IMF) marked foreign financing gap for two years.
This was said in a media report on Saturday (February 08, 2025). In the last five months, Islamabad has requested Beijing to reconstruct the loans provided by its Exim Bank for the second time. Quoting government sources, ‘The Express Tribune’ has said that Deputy Prime Minister Ishaq Dar made a formal request during the visit of Beijing this week.
Pakistan will continue to pay interest
Government officials said that Pakistan has requested China to consider the renovation of its loans from October 2024 to September 2027 from China. A two -year extension was sought to repay the official and guaranteed loans received from the Exim Bank. Pakistan will continue to pay interest.
Pakistan is expecting from China
Sources said that Pakistan had to identify financing sources to meet the external financing difference of five billion dollars for the three -year program period. He said that Chinese officials are positive and hopeful that Beijing will accept Pakistan’s request to reduce external funding problems.
Earlier, in September last year, the Finance Minister wrote a letter to the Exim Bank requesting the renovation. According to a joint statement of China-Pakistan on Thursday, the Pakistani side reiterated its praise for its valuable support for its fiscal and financial stability. This statement was released after President Asif Ali Zardari’s state visit to Beijing.
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