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Japan’s praiseworthy step

By: Muhammad Ibrahim Bhatti

At a time when the country’s economy is burdened with domestic and foreign debt and its weak condition and the global epidemic of Corona are making it more difficult for it to repay its debts, Japan’s delay in repaying loans is too much. Welcome. This will reduce the financial burden to some extent in the form of temporary loans. Pakistan and Japan have agreed to defer a loan of 40 billion Japanese yen to help with the current difficult situation of the corona virus. Under the agreement, the debt and interest repayment schedule due between May 1, 2020 and December 31, 2020 will be rescheduled after June 15, 2022. It should be noted that this step is in line with the G20 countries’ decision to defer loans. It was agreed in April last year that 21 1.6 billion in loans from 21 countries to Pakistan between April and December 2020 were deferred. The loan deferral agreement was signed on behalf of Pakistan by Secretary Economic Affairs Noor Ahmed and Japanese Ambassador to Pakistan Mitsudakuni Noori. The agreement will also strengthen Pak-Japan economic ties, as evidenced by the Japanese ambassador’s statement that global solidarity is needed on the medical and economic fronts to fight Corona, and that the agreement signed today On the economic front, there is clear evidence of Japan’s solidarity with Pakistan. It should be noted that Japan had provided مدد 9.5 million in direct assistance to Pakistan, while ممالک 7.4 million had been provided in conjunction with other countries to prevent the spread of Code 19 and ensure early availability of other medical devices, including diagnostic kits. Had given

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