The federal government has waived the guarantee fee on the Chinese loans being taken to construct two nuclear power plants in Karachi and also sought a report on the total outstanding employee-related liabilities of the Pakistan Steel Mills (PSM).

The Economic Coordination Committee (ECC) of the Cabinet on Wednesday approved to write off 0.5% guarantee fee on the foreign loans of the K2/K3 projects. The decision will help reducing the power projects construction cost by Rs12 billion, said a handout of the Ministry of Finance.

 Adviser to the Prime Minister on Finance Dr Abdul Hafeez Shaikh chaired the ECC meeting.

China had extended $6.5 billion loans for the construction of the Karachi Nuclear Power Plants which have a combined generation capacity of 2,200 megawatts.

https://tribune.com.pk/story/2265352/pti-govt-waives-guarantee-fee-on-chinese-loans-taken-to-build-nuclear-plants-in-karachi