CPEC power projects have burdened Pakistan with unsustainable loans and high electricity costs. Yet, Pakistan is the only South Asian country facing chronic power shortages, with load-shedding rampant even in cities like Karachi. According to AidData, Pakistan’s debt exposure to Beijing for the period from 2000-2021 clocked in at $67.2 billion, with CPEC having added almost $26 billion to Pakistan’s government debt. Yet, the repeated calls by Islamabad to Beijing to restructure its $15 billion energy debt have gone unheeded.
