China has once again shown its strong support for Pakistan by rolling over a $2 billion loan for another year. The Ministry of Finance confirmed this development on Saturday, stating that the loan, which was originally due on March 24, has now been extended for one more year.
This decision comes as a relief for Pakistan’s economy, which is currently undergoing an economic review under the International Monetary Fund (IMF) program worth $7 billion. The rollover of this loan will help strengthen Pakistan’s foreign exchange reserves, providing much-needed financial stability.
According to the Ministry of Finance, China has always been a reliable partner in Pakistan’s economic journey. This latest financial support highlights the close relationship between the two countries and China’s continuous assistance in helping Pakistan navigate its economic challenges.
In addition to China’s support, the United Arab Emirates (UAE) also extended its $2 billion deposit with the State Bank of Pakistan earlier this year. Prime Minister Shehbaz Sharif announced this development after meeting with UAE President Sheikh Mohammed bin Zayed Al Nahyan in Rahim Yar Khan. He emphasized the strong brotherly ties between the two nations and expressed optimism about Pakistan’s economic future.
Prime Minister Shehbaz Sharif also noted that the government’s efforts are leading to economic stability. He expressed confidence that Pakistan is on the path to prosperity and will soon achieve a stronger position in the global economy. He praised the growth in textile-led exports, highlighting that the textile sector plays a crucial role in the country’s development.
