Decembe 07, 2017
China stops funding of three CPEC road projects: Report
LAHORE: China has announced it will temporarily halt funding for at least three major road projects under the China-Pakistan Economic Corridor (CPEC), media reports said on Thursday.
The decision by Chinese government could affect road projects of the National Highway Authority (NHA) worth more than 1 trillion rupees.
A senior government official confirmed to a daily that the funds would be released after Beijing issues ‘new guidelines’.
The road projects that are likely to be affected include 210-km-long Dera Ismail Khan-Zhob Road, being built at an estimated cost of Rs 81 billion. Of this, Rs 66 billion would be spent on construction of road while Rs 15 billion on land acquisition.
The other project which is going to be hit is 110-km-long Khuzdar-Basima Road, having an estimated cost of Rs 19.76 billion.
The third project is Rs 8.5 billion worth, the remaining 136-km of Karakarom Highway (KKH) from Raikot to Thakot.