Financing remained muddled for the multi-billion dollar China Pakistan Economic Corridor (CPEC) project Mainline-1 (ML-1) after Pakistan took recently struck a deal with the International Monetary Fund (IMF).
According to details, the project has also been facing delay because the Planning Commission’s bureaucracy is reluctant to process the project because of the continued heavy handedness of the National Accountability Bureau (NAB) – especially in matters related to CPEC.
Members of the Planning Commission are also not clear on whether or not the country could sign a new loan deal with China for the construction of the $8.5 billion project under the Railway ministry, as expressed by Planning secretary Zaffar Hasan in a parliamentary committee meeting.
While the IMF has not directly stopped Pakistan from undertaking any new CPEC projects, it has brought it under new debt sustainability goals. ML-1 is the only project of CPEC that has been declared ‘strategically important’ by both Pakistan and China, but has seen continued delays for the past four years.
U.S. has maximum shares in IMF and it’s board work under the direction of U.S. policy. Hence how IMF can allow to sign such deal.
Curious about Peshwar Karachi motorway the most of which is completed and only Sukur Hyderabad gape is remaining. Now it’s most important to start work on Sukur Hyderabad part to complete this very important project for national interest.
Nawaz sharif implemented such a strategic important aspects of CEPEC, and Imran Khan delay 1/12 year initially by Islambabad container protest and now for further delay one year as prime minister… We are in dangerous hands this PM looks like don’t have any economic vision and itsa only target to get stronger by breaking Muslim League.. Unfortunately.. PPP broke ior breaking itsself