F.P. Report
ISLAMABAD: China has approved the deferment of a loan of $2.1 billion to Pakistan for two years.
According to sources in the Finance Ministry, China’s Exim Bank has officially informed Pakistan about the deferment through a letter.
Pakistan will not have to pay additional interest on the loan, the ministry sources added.
They further said that the loan agreement had been extended from July 21, 2023 to June 30, 2025.
Last week, Prime Minister Shehbaz Sharif had said the country’s foreign exchange reserves had further increased by $600 million.
Launching the Prime Minister’s Youth Sports Initiative in Islamabad, the PM had said the Exim Bank of China provided this roll over to the country.
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