Pakistan turns down cheaper loan offer from Japan

Pakistan has turned down a loan offer from Japan for infrastructure projects at cheaper rates compared to Chinese lending for the economic corridor, arguing the country’s loan portfolio has already gone up sharply and it needs no more credit for such projects.

Pakistan has invited Japanese companies and investors to explore the option of investing in the $4-billion electricity distribution market with particular focus on modern technological solutions for service delivery to consumers. Since the demand and supply gap will be bridged with the completion of new power projects, the emphasis is fast shifting towards electricity supply to end-consumers with service delivery of international standards.

Published in The Express Tribune, 18th February, 2018