China Will Help Pakistan Overcome Foreign Debt Woes, Envoy Says

Diners outside a restaurant along a road in Karachi, Pakistan, on Saturday, March 5, 2022. Pakistan’s central bank will likely keep rates on hold at 9.75% at its March 8 meeting after aggressive tightening in the second half of 2021.Photographer: Asim Hafeez/Bloomberg

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By Faseeh Mangi

March 14, 2024 at 9:14 AM UTC

This article is for subscribers only.

China will help Pakistan overcome its foreign debt woes by extending financial assistance to the South Asian country, according to its consul general in Lahore.

Beijing has never pressured Islamabad to repay loans and it has recently rolled over $2 billion in debt as the payment date neared, China’s Counsel General Zhao Shiren said in an address to the business community in Faisalabad in Punjab province. Zhao’s comments were carried in a statement released by the Faisalabad Chamber of Commerce and Industry.