Pakistan has prepared the agenda for the upcoming Joint Coordination Committee (JCC) meeting, seeking more than $2 billion in fresh financing from China, sources confirmed to ProPakistani.
The agenda includes major projects under the China-Pakistan Economic Corridor (CPEC), namely the Karakoram Highway (KKH) Phase II realignment, the Main Line-1 (ML-1) railway project, and the East Bay Expressway. According to the proposals, Pakistan has requested $1.5 billion in Chinese financing for the KKH Phase II and East Bay Expressway. Additionally, $500 million has been sought for the ML-1 section from Rohri to Multan.
The realignment of KKH Phase II is estimated to cost nearly Rs. 500 billion, while the 14-kilometer East Bay Expressway is expected to cost more than Rs. 30 billion. As per the financing plan, 85% of the cost for KKH Phase II and the East Bay Expressway will be covered through Chinese funding, with the remaining to be borne by Pakistan.
Construction contract should also be given to Chinese or Korean companies.., their worth and last 20 years working history should also public. No Pakistani contractors should be given road construction contract.