China has rolled over the $2 billion debt of Pakistan

Islam Abad(94 news) China has agreed to roll over the $2 billion debt of Pakistan.
According to the details, the Ministry of Finance said that the payments with China will be made on March 23 2 A further extension of the repayment period of billion dollars has been agreed. In this regard, the response of the Chinese embassy is awaited. Currently, Pakistan is repaying this debt at the rate of 7.1%.
China has informally agreed to the debt rollover and the finance ministry is now awaiting a formal response, officials said.
It should be noted that Pakistan has paid 26.6 billion rupees as interest to China, Saudi Arabia and UAE in the last fiscal year. A year before this, Pakistan had paid 12.2 billion rupees in this regard. Thus the cost of interest increased by 118%.