ISLAMABAD: Preparations have been made for re-profiling of $15.4 billion debt of electricity projects under the CPEC during the expected visit of Chinese prime minister to Pakistan this month.
A memorandum of understanding in this regard is likely to be signed during the visit of Chinese prime minister.
The Government of Pakistan has proposed re-profiling of debt for power projects under the CPEC which will increase the overall payment burden of Pakistan by $1.22 billion. As a result of the 5-year extension in payment, the amount of payment will increase from $15.40 billion to $16.62 billion, according to sources.
Pakistan’s Private Power Infrastructure Board and Chinese companies will sign the proposed MoU and approval for the MoU will be taken from the federal cabinet.