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Caretaker Prime Minister Anwaarul Haq Kakar has formally requested China’s envoy for a debt rollover of $2 billion in a letter.
Kakar is searching for an extension of the mortgage cost interval for one 12 months, with ongoing discussions between the Ministry of Finance and Chinese language officers for the attainable rollover.
Underneath the present phrases and circumstances, Pakistan is obligated to deposit the $2 billion mortgage by March 24, 2024.
In his letter, Kakar expressed gratitude to China for its monetary help in the course of the financial disaster. The transfer comes after Pakistan not too long ago secured a secure deposit of a $4 billion mortgage, assuaging mounting stress on exterior debt funds and stabilizing overseas change reserves.
Sources reveal that the formal discussions between the Ministry of Finance and Chinese language officers are progressing, indicating the potential of a one-year rollover for the $2 billion mortgage.
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