China has given its nod of approval to Pakistan for the rollover of allcommercial loans, according to the Minister for Foreign Affairs, ShahMehmood Qureshi.
In a video message on Twitter, the minister confirmed China’s decision onits revolving facility for Pakistan and stated that procedural stipulationsin this regard were being furnished by the concerned authorities and willbe finalized soon.
Also, China is willing to bridge the supply of diesel to Pakistan in theface of the expected shortfalls that the country could face, he said.
Earlier, Pakistan had asked China to defer the payment of its existingloans worth $10.735 billion and provide an additional loan of $10 billionas a deposit fund. These included the rollover of safe deposits of $4billion and commercial loans of $6.7 billion upon maturity, and a tentativecurrency swap arrangement beyond $15 billion, among other arrangements.
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The minister is currently in China for the third meeting of the ForeignMinisters of neighbouring countries of Afghanistan which will conclude onMarch 31.
Apart from China and Pakistan, representatives from Russia, Iran,Tajikistan, Turkmenistan, and Uzbekistan are also participating in the mainmeetings involving the neighboring states.
