ISLAMABAD – China and Saudi Arabia are likely to rollover the debt of $9 billion for Pakistan in fiscal year 2024-25.
Finance Minister Muhammad Aurangzeb is currently in China to discuss the power sector debt relief alongside structural reforms suggested by the International Monetary Fund (IMF).
The minister held a meeting with his Chinese counterpart to discuss several proposals, including reprofiling nearly $15 billion in energy sector debt.
Reports further said that Pakistan is expected to get facility of $500 million for oil and other commodities from Islamic Development Bank.
However, Saudi Arabia is unlikely to give another roll over for oil loan facility.
The South Asian country has to make repayments of $20.8 billion this year. The Geneva Donors Conference had pledged for $10.7 billion but Pakistan could get only $3 billion.
It is also reported that Pakistan is expected to security $1 billion loan from the World Bank for Dasu Hydropower Project.
