PAKISTAN TELLS IMF: NO EXTRA BUDGET FOR $1.8B CHINESE POWER PLANT DUES

Pakistan has assured the IMF that it does not plan to allocate an additional budget to settle the USD 1.8 billion dues

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Pakistan has assured the IMF that it does not plan to allocate an additional budget to settle the USD 1.8 billion dues of Chinese power plants built under the ChinaPakistan Economic Corridor, as the new government scrambles to revive the sinking economy, according to a media report.

An International Monetary Fund (IMF) team has been in Pakistan to complete the final review of the USD 3 billion Standby Agreement approved for the country last year before releasing the last tranche of USD 1.1 billion before the end of the programme next month.

The team has met officials who are also interested in getting a fresh loan to keep the dollar-starved nation's economy afloat, The Express Tribune newspaper reported.