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    Welcome to "PKLEAKS_29.0"......
In recent years, Chinese loans provisions are massively utilised for Balance of Payments support along with the traditional stabilization packages provided by IMF, keeping in view the budget financing requirement of our country.

We have come across a letter dated June 8, 2021, penned by our honourable PM Imran Khan, to H. E. Mr. Li Keqiang, Premier of the State Council of the People's Republic of China, Beijing.

The letter mentions about the provision of USD 1.0 billion to our State Bank of Pakistan by the State Administration of Foreign Exchange, China on July 23, 2020 for a period of 12 months at an interest rate of LIBOR plus 1.0 percent. Our PM was again found doing barefooted hand-folded pleading, requesting a roll over for another year on previous terms and conditions with the deposit maturing on July 23, 2021.

The letter bears true testimony to our failed efforts in saving the economy and falling prey to the Chinese debt-trap diplomacy.

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