Pakistan plans to seek debt relief from China on power projects: Bloomberg
Deferment in payments will help government to reduce its fiscal deficit.
ISLAMABAD (Dunya News) – Pakistan plans to ask China for relief on payments for power projects Beijing financed over the past eight years, Bloomberg news reported.
The international journal reported that Pakistan and China, in informal talks, have discussed easing terms on the repayment of debt on about a dozen power plants; however, Islamabad hasn’t made a formal request yet.
Beside power plants a mining project and transmission projects are also receiving financing from China. Deferment in payments will help government to reduce its fiscal deficit.
