A sigh of relief for Pakistan as China has rolled over its safe deposit of $2 billion on the existing terms as the country’s foreign exchange reserves remain stabilized.
Sources said that the deferment of payment has been done for a year.
Sources added that Pakistan was seeking confirmation of financing from Saudi Arabia and United Arab Emirates (UAE) which is a ‘prerequisite’ to secure loan tranche from International Monetary Fund (IMF).
Last week, sources within the finance ministry said Pakistan was seeking to get $2 billion each from China and Saudi Arabia, while meetings were underway to get $1 billion from the UAE.
Earlier, Finance Minister Ishaq Dar assured of publicizing the details of the staff-level agreement with the global lender.