Chinese President Xi Jinping and Pakistani Prime Minister Shahbaz Sharif.
Once again Pakistan is running from pillar to post in search of financial help. After the IMF and Saudi Arabia, Pakistan requested an additional loan of 10 billion yuan (1.4 billion US dollars) from China. This is not the first time that Pakistan has already received a commercial loan of 30 billion yuan ($4.5 billion) from China.
A statement issued by Pakistan’s Finance Ministry said Finance Minister Muhammad Aurangzeb met China’s Vice Finance Minister Liao Min during the IMF and World Bank annual meetings in Washington and discussed the loan. of 30 billion yuan from China. requested to increase it to 40 billion rupees. Pakistan has been fighting a liquidity crisis for the past few years and has received help from many countries, including China, for this.
Arbo asks China for help
According to the Express Tribune newspaper, if China accepts this demand from Pakistan, the loan received from China to Pakistan will amount to 5.7 billion US dollars. This is not the first time that Pakistan has demanded more economic aid, even before Pakistan made such calls. However, China has rejected all appeals.
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Pakistan made this demand barely two weeks after China’s decision, in which China extended the annual aid granted to Pakistan by $4.5 billion until 2027.
Hands extended to the IMF and Saudi Arabia too
Last month Pakistan received a $7 billion bailout from the IMF. Earlier, Pakistan had requested to increase economic aid from Saudi Arabia with an additional aid of $1.5 billion. Saudi Arabia has given financial support of $2 billion to Pakistan in 2023.
