Govt to allocate Rs55b for CPEC

The government has proposed an allocation of Rs55 billion for the China-Pakistan Economic Corridor (CPEC) projects in the next budget, which does not match with the needs to finance a portfolio of Rs1.6 trillion.

According to a report by The Express Tribune, about 25 CPEC related schemes have been included in the Public Sector Development Programme (PSDP) 2021-22, according to officials of the Ministry of Planning and Development. The story is based on schemes that have been mentioned either as CPEC projects in the official documents or are already known CPEC schemes.

The government has proposed Rs55 billion to finance the development work in the next fiscal year. Majority of these infrastructure projects had been initiated few years ago and should have been completed by now.

The total cost of CPEC projects has increased to Rs1.6 trillion, of which Rs305 billion has already been spent on these schemes. The remaining financing for these projects is estimated at Rs1.3 trillion, according to the Ministry of Planning officials.

 

 

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