Pakistan, March 8 -- China has extended the repayment period of a $2 billion loan to Pakistan by one year. The loan, originally due for repayment on March 24, has been deferred to provide financial relief to Pakistan. The finance ministry confirmed that the extension would help stabilize the country's foreign exchange reserves.

This move is crucial as Pakistan faces ongoing economic challenges, including a balance of payments crisis. The loan deferment will ease immediate repayment pressures, allowing the government to focus on stabilizing the economy. China has been a long-time economic partner, supporting Pakistan through financial assistance and investments, particularly under the China-Pakistan Economic Corridor (CPEC).

Pakistan is ...