Islamabad: Pakistan has finalized an agenda seeking more than $2 billion in financing from China to push forward key infrastructure projects under the China-Pakistan Economic Corridor (CPEC), sources confirmed on Friday.
According to officials familiar with the development, the financing plan will be tabled at the upcoming Joint Coordination Committee (JCC) meeting between the two countries. The agenda includes some of the most significant ongoing projects: the Karakoram Highway (KKH) Phase II, the Multan–Rohri section of the ML-1 railway line, and Gwadar’s East Bay Expressway.
Insiders revealed that a request of around $1.5 billion has been made for the KKH Phase II and the East Bay Expressway, while another $500 million has been sought to fund the ML-1 stretch from Rohri to Multan. Early estimates suggest that the realignment of KKH Phase II alone could cost about Rs 500 billion, while the 14-kilometer East Bay Expressway project in Gwadar is expected to exceed Rs 30 billion.
Officials added that China is likely to shoulder nearly 85 percent of the financing for the two major road projects, with Pakistan contributing the remaining share. If approved, the fresh funding would give a significant boost to Pakistan’s connectivity drive under CPEC, which has faced delays in recent years due to financial constraints.
