Circular debt also hits CPEC projects Government unable to clear payment of energy projects worth Rs188b The outstanding amount is only 18.4% of the total billed amount of Rs1.02 trillion, which is not a very large sum, said the PM’s aide. PHOTO: FILE ISLAMABAD: The China Pakistan Economic Corridor (CPEC) power projects are also hit by the circular debt and the government has not been able to clear Rs188 billion due payments in breach of a bilateral energy framework agreement. Although, the outstanding payments are only 18.4% of the billed amount, it has started affecting the financing models of the Chinese sponsors of the Independent Power Producers (IPPs), set up under the CPEC agreement.