Pakistan vows no extra budget for China-Pakistan Economic Corridor

Pakistan vows no extra budget for China-Pakistan Economic Corridor

VoM News Desk | March 17, 2024 | 11:36 PM IST | Pakistan News, World | Follow on Google News

Pakistan vows no extra budget for China-Pakistan Economic Corridor

Pakistan vows no extra budget for China-Pakistan Economic Corridor

The Pakistan government has assured the International Monetary Fund (IMF) that it will not allocate additional funds to settle the dues of Chinese power plants, as reported by The Express Tribune on Sunday.

IMF Questions Power Sector’s Anti-Theft Campaign

The IMF questioned the effectiveness of Pakistan’s power sector’s anti-theft campaign and raised concerns about the government’s decision on allocating funds for Chinese power plants.

Concerns Over Rising Chinese Debt and Energy Policy

The outstanding dues of Chinese power projects under the China-Pakistan Economic Corridor (CPEC) have significantly increased, prompting IMF scrutiny over Pakistan’s energy policies and debt management strategies.

The article elaborates on the implications of these issues, including the potential impact on circular debt, electricity prices, and the overall economy. It underscores the challenges faced by Pakistan in balancing its energy needs, financial obligations, and IMF requirements.

VoM News Desk

VoM News is an online web portal in jammu Kashmir offers regional, National & global news.