August 16, 2022

Pakistan, which is facing financial crisis, is preparing to take loan from China. Pakistan has decided to seek a loan of $ 2.7 billion from China for the construction of Package-1 of Mainline-1 Project of China Pakistan Economic Corridor (CPEC). This loan is being sought from Pakistan from China at a time when the economy of Pakistan is already on the verge of bankruptcy. The coronavirus epidemic has made the financial crisis more serious. 

The Pakistani newspaper ‘ The Express Tribune ‘, citing government officials, said in its news that the sixth meeting of the financing committee on the mainline-1 project has been decided that Pakistan will initially receive $ 6.1 billion in Chinese funding from China Will request to approve the loan of only $ 2.73 billion. The ML-1 project involves upgrading and doubling of the 1,872-km railway track from Peshawar to Karachi.

According to the newspaper’s news, Pakistan’s Ministry of Economic Affairs has decided to send a formal letter of intent to China next week, as it is estimated that China will be planning next year’s financing plan by the end of this month. Can finalize.