Pakistan on Friday decided to seek $2.7 billion in loan from China for the construction of package-I of the Mainline-1 project of China Pakistan Economic Corridor (CPEC) amid the Ministry of Finance’s emphasis on making the project bankable to address debt sustainability concerns.

The sixth meeting of the financing committee on ML-1 project decided that Pakistan would initially request China to sanction only $2.73 billion in loan out of the total estimated Chinese financing of about $6.1 billion, according to government officials.

The Ministry of Economic Affairs has been directed to formally send the Letter of Intent to China next week as Beijing is expected to finalise its next year’s financing plans by the end of current month, according to the officials. Planning Commission Deputy Chairman Dr Jehanzeb Khan chaired the sixth meeting of the financing committee.

https://tribune.com.pk/story/2272172/pakistan-to-seek-27b-chinese-loan