Cash-starved Pakistan engages in debt reprofiling talks with China

Islamabad - Pakistani Finance Minister Muhammad Aurangzeb said Sunday that he had engaged in 'very constructive' talks with Chinese counterparts on rescheduling billions of dollars in debt owed to China, but he reported no immediate progress.

Islamabad is asking that Beijing, its close ally, delay at least $16 billion in energy sector debt repayments and extend the term of a $4 billion cash loan facility because