The federal government has once again failed to reach a decision on making Rs230 billion in payments to Chinese power plants operating under the China-Pakistan Economic Corridor (CPEC) project, as well as opening a bank account to protect their investors from a vicious cycle of circular debt in the future.
Officials from the finance and energy ministries, as well as the CPEC Authority, met on Monday under the chairmanship of Finance Adviser Shaukat Tarin, but no decision was reached on the timing of settling outstanding dues and opening a revolving account, according to at least three participants.
