Islamabad: Reportedly, the International Monetary Fund (IMF) will prohibit Pakistan from taking more loans from China. The future of Pakistan’s decision to borrow 790 crore Pakistan Rupees (PKR) from China for the China-Pakistan Economic Corridor will depend on IMF recommendations.
Structural changes are urgently needed as it is not sustainable to propel Pakistan’s economy with external financial assistance. The IMF is also concerned regarding Pakistan’s loans from China and high payments to China’s independent energy companies. Reports are that objection has been sent.
IMF also said that Pakistan should negotiate with China to reduce the tariff in the energy sector. says Chinese power companies operating in the country owe PKR 350 billion in dues to Pakistan.
| Pakistan may be banned from borrowing from China
