Did not ask Pakistan to renegotiate CPEC IPP contracts: IMF

The International Monetary Fund (IMF) has rejected reports that it has asked Pakistan to renegotiate deals inked with independent power producers (IPPs) for the China-Pakistan Economic Corridor (CPEC).

A statement was released on Wednesday by Esther Perez Ruiz, IMF’s Resident Representative for Pakistan.

“The IMF did not ask Pakistan to renegotiate CEPC (sic) IPP contracts. These claims are simply untrue,” it read.

The statement added that the global lender “supports the government’s multipronged strategy to restore energy sector viability which shares the burden of restoring viability across all stakeholders — the government, producers, and consumers”