Pakistan plans to ask China for relief on payments for power projects Beijing financed over the past eight years, the latest developing nation that’s struggling to repay debt under President Xi Jinping’s Belt and Road Initiative, Bloomberg news reported.
The international journal reported that Pakistan and China, in informal talks, have discussed easing terms on the repayment of debt on about a dozen power plants; however, Islamabad hasn’t made a formal request yet.
Beside power plants a mining project and transmission projects are also receiving financing from China. Deferment in payments will help government to reduce its fiscal deficit.
