Pakistan requests Chinese to rollover $2 billion loan

ISLAMABAD: Pakistan has formally requested China to rollover the $2 billion loan which is supposed to be paid by the former by March 23.

According to sources, Caretaker Prime Minister Anwaarul Haq Kakar has written to the Chinese Prime Minister Li Qiang, requesting to rollover the loan for another one year.

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As per the sources, the finance ministry is in touch with the Chinese authorities, are likely to rollover the loan for another year.

According to sources, China had deposited around $4 billion in Pakistan to help the country in maintain its forex reserves at certain level to eschew default on external payments including heavy interests against the borrowed loans from international lenders and countries.