Pakistan's Finance Minister Mohammad Aurangzeb said the country is seeking an extension of the repayment tenure by three to five years for Chinese-funded independent power projects (IPPs). 

The total repayment is valued at $9 billion, the minister told The News International, a Karachi-based news daily.

The government is also considering appointing a Chinese consultant to secure IPP debt owed by Chinese companies and banks, he added.

Additionally, the government has appointed a consultant to launch a Chinese renminbi-denominated Panda bond this year, the news report said.

Last month, the finance minister said that Pakistan has initiated talks on reprofiling its power sector debt to China.

(Editing by Anoop Menon) anoop.menon@lseg.com)

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