Islamabad to propose Pak China JCC meeting in May

Amid mounting security concerns and a growing circular debt crisis among Chinese independent power producers (IPPs) in Pakistan, the government is taking proactive steps. Scheduled for May 23 and 24 in Islamabad, the upcoming Joint Cooperation Committee (JCC) meeting under the China-PakistanI Economic Corridor (CPEC) is crucial.

Pakistan plans to propose a significant change during this meeting. The proposal aims to shift coal-based power plants from imported coal to local coal sources. This strategic move could slash costs from $1.5 billion to just $500 million.

Prime Minister Shehbaz Sharif’s high-level delegation visit to China adds weight to these discussions. The goal is clear: divert the saved $1 billion towards tackling the mounting circular debt of Chinese IPPs.

This shift addresses Pakistan’s economic concerns and underscores its commitment to sustainable energy practices. By utilizing local resources, Pakistan reduces dependency on imports and fosters economic growth and stability.

The proposed change reflects a pragmatic approach to resolving pressing issues while strengthening the longstanding partnership between Pakistan and China.