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.
This man will go away soon as this government will. The generations of poor people will pay for the return of these 15 billion loans during the next 15 or so years. The coming government will point a finger at this government. The vicious cycle will continue. You and I will see this tamasha during the rest of our lives.