The government has constituted a committee consisting of federal ministers for negotiations with China for rescheduling $15 billion energy debt.
According to sources, the committee comprises ministers of finance, energy, economic affairs and secretary finance.
A subcommittee has also been constituted comprising officials of Central Power Purchasing Agency (CPPA), Private Power and Infrastructure Board (PPIB) and banks and Chinese representatives to assist the ministers.
The subcommittee will draft proposals for debt rescheduling in four weeks and the committee will review the recommendations for two weeks, added sources.
They said the committee will make a final assessment of the recommendations and submit a report to the prime minister. After approval by the premier, the report will be submitted to the federal cabinet.
Sources said, in the meanwhile, the committee will remain in touch with the Chinese authorities.
After approval by the cabinet, the report will be conveyed to China.
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