China has decided to temporarily stop funding at least three major road projects in Pakistan, being built as part of the USD 50 billion China-Pakistan Economic Corridor, following reports of corruption, a decision that has left officials in Islamabad “stunned”, a media report said.
The decision by the Chinese government is likely hit over Rs 1 trillion-worth road projects of the Pakistan’s National Highway Authority (NHA), and initially, may delay at least three such ventures, Dawn newspaper reported.
According to a senior government official, the funds would be released after Beijing issues ‘new guidelines’.
The nearly USD 60 billion CPEC, a flagship project of China’s prestigious One Belt One Road, passes through Pakistan -occupied Kashmir (PoK). It links China’s restive Xinjiang region with Pakistan’s Balochistan province. Read More…
Latest posts by outlookindia (see all)
- Let RPFSecure, Manage New Metro Stations Across Country: Railways Proposal - October 13, 2018
- India And Russia Need To Diversify Their Economic Relationship But Structural Constraints Remain - October 7, 2018
- Fuel under GST to affect states’ revenue: Chief Ministers - October 6, 2018