FinMin Aurangzeb heads to Beijing for rescheduling of $15b Chinese loans
Muhammad Aurangzeb is a seasoned banker with more than 35 years of diverse experience at leading global banks in Pakistan and overseas. PHOTO: FINANCE MINISTRY
Federal Finance Minister Mohammad Aurangzeb is set to embark on a three-day visit to China today, aiming to discuss the rescheduling of a $15 billion energy loan.
According to sources from the Ministry of Finance, a joint working group may be established between Pakistan and China to facilitate the loan rescheduling.
The discussions will also address issues related to China's energy circular debt, which currently amounts to approximately Rs500 billion.
Read: Pakistan seeks $17b from China
The minister is also expected to engage in talks regarding the Panda Bond, as Pakistan seeks to secure $30 million through this financial instrument in China.
The finance minister's discussions will also cover the ongoing efforts and developments on CPEC and other collaborative projects.