Sources claim that in order to obtain a $600 million loan, the prime minister will hold discussions with the Commercial Bank of China and the Industrial and Commercial Bank of China.
It was reported by sources that the Chinese banks’ strict demands were the reason prior talks with the banks had failed.
According to insiders, Pakistan aims to ease the strict limitations imposed by Chinese banks, such as the deadline for payments to Chinese infrastructure partnerships and an interest rate of as much as 8%.
VIEW: PM On his second tour of China, Shehbaz lands in Beijing.
Since July 2023, the administration has been in negotiations to obtain the loan with the Chinese banks. Negotiations are underway to finalize a $600 million loan agreement that will benefit Pakistan. The loan is now being sought for the upcoming fiscal year.
Prime Minister Shehbaz Sharif is now in China and is scheduled to spend the day in Beijing.
A reception for business and friendship between China and Pakistan will be addressed by the prime minister. Meetings between the Prime Minister and the leaders of China Exim Bank, China Power, China Energy, China Road and Bridge Corporation, China Construction and Communication Corporation, and China International Development Agency are scheduled.
