ISLAMABAD: The International Monetary fund (IMF) has not asked Pakistan for renegotiating China-Pakistan Economic Corridor (CPEC) Independent Power Producers (IPP) contracts.

In statement, Esther Perez Ruiz, IMF’s Resident Representative for Pakistan stated: “The IMF did not ask Pakistan to renegotiate CPEC IPP contracts. These claims are simply untrue. Rather, the IMF supports the government’s multi-pronged strategy to restore energy sector viability which shares the burden of restoring viability across all stakeholders: the government, producers, and consumers.”

IMF says Pakistan budget needs additional measures to meet goals

The IMF’s statement follows a report claiming that the lender has asked the government to renegotiate CPEC energy deals ahead of payments to Chinese power plants amounting to around Rs300 billion.

Copyright Business Recorder, 2022