Finance Minister Ishaq Dar denied the rumours that the Chinese loan rollover had been delayed and stated that Beijing has extended its $2 billion loan to Pakistan for another year, according to sources.
Speaking in the Senate today on a point raised by PPP leader Raza Rabbani, he rejected as speculative a report that appeared in foreign media that Pakistan is still awaiting the rollover of the Chinese loan. Ishaq Dar said the rollover was made on March 23.
He said the documentation for the rollover is also complete and is no longer in the pipeline. He further said that currently Pakistan has two types of safe deposits with China.
One is between the Central Bank of China and the State Bank of Pakistan (SBP), and Islamabad is also doing business with the commercial banks of China, including the Bank of China, ICBC, and China Development Bank.
