Pakistan assures IMF over CPEC energy deals: Report

Updated: Jul 16 2022 2:08PM

Islamabad, Jul 16 (PTI) Pakistan has assured the IMF that it would try to receive concessions from the Chinese investors participating in the China-Pakistan Economic Corridor (CPEC) power plants in the shape of either reduction in the profit rates on investment or rescheduling the loan repayments, according to a media report on Saturday.

The assurance to seek concessions from the Chinese investors was given by Pakistani authorities to remove one of the bottlenecks in the finalisation of a staff-level agreement with the International Monetary Fund, government sources told The Express Tribune newspaper.

Pakistan and the IMF reached a preliminary staff-level agreement this week on the combined seventh and eighth reviews for a USD 6 billion loan facility for cash-strapped Pakistan.