Pakistan signs PkRs 1.2 trillion finance deal with banks consortium for power sector debt
Cash-strapped Pakistan on Thursday signed a PkRs 1.2 trillion financing agreement with a consortium of 18 banks – described as the largest restructuring deal – to address the country’s ballooning power sector debt.
The signing ceremony is being hailed as a breakthrough in tackling the circular debt crisis, which has swelled to nearly Pakistani rupees (PkRs) 2.4 trillion – 2.1 per cent of the GDP, according to an official statement.
