Pakistan secures PKR 445 billion financing deal with China for Karakoram Highway
Pakistan is nearing a PKR 445 billion financing deal with China to upgrade the Thakot-Raikot section of the Karakoram Highway, enhancing transport and economic activity.
Discussions are underway between Pakistan’s Finance Ministry, Planning Commission, and Economic Affairs Division with Chinese counterparts. The project will include high-quality bridges, reinforced slopes, and bypasses to alleviate traffic congestion.
A Chinese-Pakistani joint venture is expected to secure the contract under CPEC. Prime Minister Shehbaz Sharif has been updated on progress, with a high-level delegation potentially visiting China. Additional CPEC Phase II contracts in agriculture and IT are also anticipated
