BEIJING, Oct 21: China is reassessing its participation in the China-Pakistan Economic Corridor (CPEC) due to delayed loan repayments and mounting security threats to Chinese nationals in Pakistan, a report has revealed.
During Prime Minister Shehbaz Sharif’s visit to Beijing in September, both countries launched “CPEC 2.0,” shifting focus from large-scale infrastructure projects to sectors like agriculture, solar energy, electric vehicles, health, and steel.
Originally valued at $62 billion, CPEC aimed to connect China’s Xinjiang with Pakistan’s Gwadar Port through roads, railways, and energy projects.
However, major initiatives like the $6.8 billion ML-1 railway upgrade have stalled, with Pakistan now pursuing multilateral financing involving the Asian Development Bank.
Delays in payments to Chinese power companies and Pakistan’s ongoing debt issues have contributed to China’s cautious investment approach.
Additionally, a series of attacks targeting Chinese personnel and CPEC sites have raised serious security concerns, pushing Beijing to demand stronger protective measures and reconsider project commitments. (IANS)
China reviews Pakistan projects amid payment delays, security risks: Report
Date:
Share post:
