Finance Minister Muhammad Aurangzeb revealed on Tuesday that the Chinese engineers who lost their lives in the recent terror attack near Karachi’s Jinnah International Airport were part of a team negotiating with the Pakistani government regarding debt re-profiling.

“The victims were engineers from the independent power producers (IPP) with whom Energy Minister Awais Leghari and I were discussing our request to restructure our debt and extend payment maturities. This would help us lower power tariffs and provide relief to the public,” he said in a televised address.

Aurangzeb extended his condolences to the people and government of China, emphasizing the tragic nature of the incident.

A convoy transporting Chinese personnel from the Port Qasim Electric Power Company (Private) Limited was attacked on Sunday, resulting in the deaths of two Chinese nationals and injuries to another.

The finance minister stated that the engineers killed in the attack committed to creating a “win-win situation” for both China and Pakistan.

According to Business Recorder, Pakistan and Chinese power companies were prepared to finalise agreements on debt re-profiling and a moratorium on payments exceeding $16 billion for periods of three to five years. This was expected to occur during the visit of Chinese Prime Minister Li Qiang.

Aurangzeb voiced serious concerns regarding the economic losses caused by strikes and civil unrest in Pakistan. He emphasised the severe repercussions faced when the government is forced to shut down businesses and cities to maintain law and order, referencing the recent lockdown of Islamabad to manage a march by PTI workers towards D-Chowk.

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He noted that approximately 800,000 individuals were impacted in Islamabad over the past few days due to such disturbances. The finance minister estimated that the economy suffers losses of around Rs190 billion daily from strikes and unrest, a figure that encompasses GDP losses, tax revenue declines, and disruptions in business, exports, and IT services.

He pointed out that Pakistan’s total GDP stands at Rs124 trillion, urging those involved in strikes to seek resolution through dialogue. “Whether it is terrorism, strikes, or unrest, these setbacks are something our country cannot afford,” Aurangzeb stated, calling on the public to avoid actions that negatively affect the economy.