Pakistan plans to ask China for relief on payments for power projects Beijing financed over the past eight years, the latest developing nation thats struggling to repay debt under President Xi Jinpings Belt and Road Initiative.
In informal talks, Pakistan and China have discussed easing terms on the repayment of debt on about a dozen power plants, according to a person with knowledge of the matter, who said Islamabad hasnt made a formal request yet. The parties have canvassed Beijings willingness to stagger debt payments, as opposed to lowering equity returns, the person said, requesting anonymity as the plan is private.
An enormous build-out of Chinese-financed power plants in Pakistan, which was originally intended to solve its electrici…
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