Pakistan will ask China to expand their currency swap line. Finance Minister Muhammad Aurangzeb shared the plan in an interview with Reuters.
Current Deal Runs Out in 2027
Pakistan holds a 30 billion yuan swap line with China. The country has already drawn the full amount. The deal expires in 2027, and Pakistan plans to request more money at that time.
Aurangzeb said the government has not yet decided how much extra it will ask for. He said China has shown openness to the idea. But Pakistan must follow the right process first.
“We do plan to make a formal request at the time of the renewal,” Aurangzeb said.
Also Waiting on a US Decision
Pakistan is also waiting to hear from the United States. It has asked for a $10 billion exchange stabilisation facility. Aurangzeb expects an answer within two months.
Pakistan is in talks with two US bodies on this: the Export-Import Bank (EXIM) and the International Development Finance Corporation (DFC).
Money from EXIM could help Pakistan International Airlines (PIA) buy Boeing planes. This would come after the airline’s privatisation. DFC funds could support a $5 billion plan to upgrade Pakistan’s oil refineries.
Aurangzeb said asking both China and the US for help is not a conflict. He called it an “and-and” situation, not a choice between the two. He said China remains a long-standing partner for Pakistan. He also pointed to a better relationship with the Trump administration.
