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Prime Minister Expresses Gratitude for China’s Economic Bailout

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Prime Minister Shehbaz Sharif commends China for its unwavering support to Pakistan during challenging economic times and vows to navigate the nation through the crisis.

“China stands firmly by Pakistan’s side, providing comprehensive assistance, and we have already received $1 billion from our trusted ally,” stated the premier, addressing the prestigious PM’s National Innovation Awards ceremony in Islamabad on Monday.

In a remarkable boost to the country’s foreign exchange reserves, China has officially announced the refinancing of a $1 billion loan to Pakistan, as confirmed by the State Bank of Pakistan (SBP) in a late Friday announcement.

The news of this refinancing initiative comes in the wake of Finance Minister Ishaq Dar’s revelation to the National Assembly’s Standing Committee on Finance and Revenue that China intends to refinance the $1 billion loan previously extended to Pakistan.

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