Pakistan seeks $2 billion Chinese funding for CPEC

The federal government has finalised the agenda for the upcoming Joint Coordination Committee (JCC) meeting with China, seeking financing of over $2 billion for major infrastructure projects under the China-Pakistan Economic Corridor (CPEC).

According to sources, the agenda includes the Karakoram Highway (KKH) Phase II, the Main Line-1 (ML-1) railway project, and the East Bay Expressway.

Pakistan has requested $1.5 billion in financing for KKH Phase II and the East Bay Expressway, while an additional $500 million has been proposed for the Rohri-Multan section of the ML-1 track.

The realignment of KKH Phase II alone is estimated to cost around Rs500 billion, while the 14-kilometre East Bay Expressway is projected to require over Rs30 billion.

Sources added that China will cover 85 per cent of the expenses for both the KKH Phase II and the East Bay Expressway projects.