In a major development, China has “agreed” to rollover a $2 billion loan to Pakistan.
According to finance ministry sources, the $2 billion loan will be repaid before the maturity date on current terms.
Sources say that less than 2 percent interest will be applied on the $2 billion loan collection from China.
The $2 billion loan will mature on March 23, 2024 and another $2 billion will be rolled over for one year, the sources added.
In July 2023, China deferred payment of a $2 billion loan to Pakistan for two years. China EXIM Bank had formally written to Pakistan regarding the delay in loan recovery.
Pakistan’s total debt burden reached Rs 63.390 trillion, including Rs 40.956 trillion in local debt and Rs 22.434 trillion in international debt.
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