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China Aid has replaced MOFCOM to invest in CPEC projects

Some delays has been reported in CPEC related projects like ML-1, Karachi Circular Railway and some others. The reason was the process of conversion of Chinese concessional loans from Ministry of Commerce (MOFCOM) to newly established China Aid.

The Chinese ambassador assured that they will continue concessional financing in Pakistan under CPEC during his CPEC review meeting with Federal Minister of Planning Ahsan Iqbal. A master plan for Gwadar was under review as the population of Gwadar I expected to reach 2 million by 2050. In meeting China assured to start work speedily on ML-1, a railway line from Karachi to Peshawar with net investment of $8 billion.

The minister added that till now $30 billion projects has been initiated and Special Economic Zone (SEZ) will be constructed in Islamabad and federal government will accommodate provinces to construct SEZs.

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