Despite repeated denials and rebuke, Pakistan is not giving up the habit of begging. Now Pakistan has once again extended its begging bowl towards its friend China. Earlier, Pakistan had begged from Saudi Arabia, America and other Islamic countries. Even before this, Pakistan had asked for help from China, but Dragon had refused. Now once again facing cash crisis, Pakistan has asked for a loan of two billion dollars for one year from its close ally China. This information was given in a media report on Saturday.
Caretaker Prime Minister Anwarul Haq Kakar has written a letter to China’s Premier Li Qiang requesting that the loan be returned as soon as the deadline for depositing the loan from China ends on March 23. According to newspaper The Express Tribune, Kakar in the letter expressed his gratitude to China for providing financial assistance to Pakistan during the economic crisis. Pakistan has raised a total of four billion dollars from China in the form of loan, which has reduced the increasing pressure on the country on external debt payments and has stabilized the position of its foreign exchange reserves.
Saudi Arabia took back the loan given
This month, the United Arab Emirates (UAE) withdrew Pakistan’s loan of two billion dollars. In addition, Saudi Arabia has deposited five billion dollars in the State Bank of Pakistan. After the UAE withdrew the loan, Pakistan’s interim government requested the International Monetary Fund (IMF) to send a new mission this month to negotiate the final loan tranche of $1.2 billion. The IMF’s next mission is important not only to secure the final loan tranche but also to begin negotiations for a new long-term program. (Language)
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