Pakistan's finance minister has reported positive developments in talks with China regarding the restructuring of debt associated with the Belt and Road Initiative.
These discussions aim to extend the loan maturities and alleviate the financial strain caused by previous costly borrowings.
The focus is on restructuring debt linked to power plants, with the goal of creating fiscal space to address the issue of soaring electricity prices.
In recent years, electricity costs have tripled for many households in Pakistan, surpassing even rental expenses, highlighting the urgent need for financial relief.