Pakistan gets huge relief in repayment of external loans

Pakistan has received huge relief in timely repayment of external loans, including the IMF, G20 countries, Saudi Arabia and China.

According to the details, after the Paris Club, Saudi Arabia and China have also been assured to defer repayment of Pakistan’s loans from May 1 to December 31.

Following the announcement of the relief, Pakistan will receive a total of 1.8 billion in relief, Finance Ministry sources said that a formal announcement would be made next week.

On the other hand, talks are underway with the United Arab Emirates to delay the repayment of loans

It may be recalled that the IMF has given one year relief in loans to Pakistan, G20 countries have also agreed to freeze the loans and now Saudi Arabia and China have also agreed to give relief in loans to Pakistan.

Also Read: IMF allows increase in salaries of government employees

Earlier, The World Bank has approved a $500mn loan programme for Pakistan.

The World Bank aims to provide best quality education and healthcare to children in Pakistan as well as to provide better opportunities for women.