ISLAMABAD:
Two Maga CPEC projects worth $10.2 billions face delay, it has beenreported.Pakistan and China could not make any breakthrough on mega mass transit andinfrastructure projects during the 8th Joint Cooperation Committee (JCC)meeting due to Islamabad’s inability to timely complete paperwork of thesemultibillion dollars schemes.
The status quo remained on $8.2 billion mainline (ML-1) project of PakistanRailways, $2 billion Karachi Circular Railways, mass transit schemes ofQuetta and Peshawar and five small road projects, according to signedminutes of the 8th JCC meeting.
The JCC is the highest decision making body of the China-Pakistan EconomicCorridor (CPEC) that met last month in Beijing after one year.
China’s National Development and Reform Commission Vice Chairman Ninglizheand Pakistan’s Minister for Planning and Development Khusro Bakhtiarco-chaired the JCC meeting.
Read Top Stories
China has declared the $2 billion Karachi Circular Railway (KCR) project‘technically feasible’ and important for ‘growth and prosperity’ forPakistan’s largest commercial hub. But Pakistani authorities failed tofulfill the procedural requirements.
“The Chinese side noted the importance of the KCR project for growth andprosperity of Karachi, presented that more endeavours shall be taken tofacilitate the KCR project as soon as possible since it’s technicallyfeasible,” said minutes of the JCC.
