Pakistan Considers Five-Year Extension of Chinese IPPs’ $15.36B Debt
An employee counts Pakistani rupee notes at a bank in Peshawar, Pakistan, August 22, 2023. — Reuters The Chinese government, the consent of IPPs is mandatory to amend existing contracts. The government will require lengthy negotiations if it decides to make a formal request. The outstanding liability would escalate to $16.61 billion in the event of an extension. ISLAMABAD: With the arrival of an International Monetary Fund (IMF) team to gauge Islamabad’s ability to repay escalating debt, Pakistan is considering options to seek a five-year extension on the outstanding debt of Chinese Independent Power Producers (IPPs). . $15.36 billion. The
