Pakistan has requested China that it needs another one year to pay back the one billion dollars it borrowed last year.

In a letter addressed to Chinese Premier, Li Keqiang on June 8th the Pakistani Prime Minister, Imran Khan wrote that July 23rd, 2021 is the date when Pakistan is suppose to return the one billion dollars.

Imran Khan further stated that due to this support by China, “this deposit is contributing significantly easing pressure on our external account.”

Prime Minister Imran Khan requested that another 12 months be given to Pakistan to payback this loan at interest rate of one percent.

Imran Khan thanked the Chinese Premier for the continuous and unwavering support by the Peoples’ Republic of China.

Source: Jalil Afridi, The Frontier Post