FinMin sets course for Beijing to renegotiate $15 billion Chinese loans

Federal Finance Minister Mohammad Aurangzeb is scheduled to begin a three-day visit to China today with the primary agenda of renegotiating a $15 billion energy loan.

Sources from the Ministry of Finance indicate plans for establishing a joint working group between Pakistan and China to facilitate the rescheduling of this substantial debt.

Key discussions during the visit will also address the pressing issue of China's energy circular debt, which currently stands at approximately Rs500 billion.

Additionally, Aurangzeb is expected to delve into talks concerning the Panda Bond, through which Pakistan aims to secure $30 million in financial support from China.

The minister's discussions are anticipated to encompass updates and strategic developments on the China-Pakistan Economic Corridor (CPEC) and other collaborative projects of mutual interest.