China and Kuwait have given Pakistan assurances that they will roll over loans totalling $4.3 billion, according to well-placed sources. Under the arrangement described, China would roll over $4 billion, while Kuwait would extend a further $300 million. The Chinese rollover is expected to take place in March 2027.
Three countries expected to extend loans for a year
Finance Ministry sources said loans from Saudi Arabia, China and Kuwait are all expected to be rolled over for about one year. Pakistan is expecting total rollovers of $7.3 billion from these three friendly countries to help meet its external financing obligations.
The government has estimated external payments of roughly $21 billion for the current fiscal year, with the $7.3 billion in rollovers included in the financing arrangements. The extensions are intended to ease pressure on foreign exchange reserves and help the country manage its external debt repayments.
Finance minister points to IMF funds due in December
Finance Minister Muhammad Aurangzeb said Pakistan is also expected to receive $1.21 billion from the International Monetary Fund (IMF) in December.
Prime Minister Shehbaz Sharif backs Saudi Arabia
In a message marking Saudi National Day, observed annually on September 23, Prime Minister Shehbaz Sharif condemned recent Houthi attacks against Saudi Arabia. He said any threat to the sanctity and security of the Haramain Sharifain deeply wounds Muslims around the world.
Shehbaz referred to an attempted drone attack near the holy city of Makkah Al-Mukarramah. Saudi authorities said the drone was intercepted, while the Houthis have denied targeting Makkah.
The prime minister, who is in New York for the 81st session of the United Nations General Assembly, extended greetings to King Salman bin Abdulaziz Al Saud, Crown Prince Mohammed bin Salman and the Saudi people. He said the Kingdom’s progress was a source of pride for both nations.
