Aurangzeb says ‘promising response’ from China over debt reprofiling

Regarding its request to reprofile power sector debt, Pakistan is receiving a “encouraging” response from China, according to Finance Minister Muhammad Aurangzeb.
On the fringes of the World Bank and International Monetary Fund (IMF) annual meetings, the finance minister told Bloomberg, “We have just started that discussion and the response is encouraging.” “Those negotiations are still in their early stages.”
“There have been a lot of programs. We’ve had cycles of boom and bust,” he remarked. “We are forced to make sure that the structural reforms are carried out.”
In light of “increasing maturities for debt taken to build power plants and create space to lower electricity prices,” the report said, this indicated “potentially more breathing room” for the nation.