Islamabad, Pakistan: Cash-starved Pakistan got a bail out from China again as China has extended the repayment period of a $2 billion loan to Pakistan by one year, reports media referring to sources in the Finance Ministry.
The loan payment was due on March 24, but Pakistan is facing depleting foreign currency reserves, so it requested China to reschedule the payment and Pakistan’s request was honored by the time-tested friend—China. This is the second time in a row that China rescheduled its loans as the loan was actually scheduled to pay on March 23, 2024.
