According to Business Recorder, the Ministry of Finance has requested an update from Pakistan Ambassador to China Moin ul Haq on Islamabad’s proposal for a $ 21 billion financial package from China.
Pakistan asked China for $21 billion in loan rollovers and deposit funds to handle future financial needs and concerns.
A rollover of all financing facilities (SAFE deposits of $4.0 billion and commercial loans of $6.735 billion) was discussed during the Prime Minister’s visit to China from February 3-6, 2022.
A rollover request was made and signed by the PM in January 2022. A 3-year commercial loan of RMB 15 billion ($2.335 billion) from a CDB, BOC, and ICBC consortium also matures on March 25, 2022.
The Ministry of Finance said it has contacted the CDB about refinancing and issued a formal request on January 27, 2022. Other deposits and loans will mature later.
Pakistan has also requested a $10 billion deposit fund. The State Bank of Pakistan also offered a $15 billion currency exchange agreement.
