ISLAMABAD – Finance Minister Muhammad Aurangzeb is all set to depart for China on a three-day official visit to discuss reschedule of $15 billion energy debt owed by Pakistan to the Chinese government.
Report said a working group could be established by Pakistan and China to streamline the process for rescheduling of the debt.
Aurangzeb is looking to negotiate a five-year extension on repayment, which would increase the total debt to $16.6 billion by 2040.
Both sides will discuss the launch of $30 million Panda Bond in the Chinese financial market, a step that aims at supporting the economic growth of Pakistan amid ongoing crisis.
