Pakistan is close to finalizing a financing deal worth PKR 445 billion with China to improve the Thakot-Raikot section of the Karakoram Highway. This upgrade aims to boost transportation and economic activity in the region.
Currently, discussions are taking place between Pakistan’s Finance Ministry, Planning Commission, and Economic Affairs Division and their Chinese counterparts.
The project will include building high-quality bridges, reinforcing slopes, and creating bypasses to help reduce traffic congestion. These improvements will make travel safer and more efficient, benefiting both local residents and trade.
A joint venture between Chinese and Pakistani companies is likely to win the contract for this project under the China-Pakistan Economic Corridor (CPEC). Prime Minister Shehbaz Sharif has been kept informed about the project’s progress, and there may be a visit from a high-level delegation to China soon to further discuss the details.
In addition to this road improvement project, more contracts related to CPEC Phase II are expected to be announced, focusing on agriculture and information technology (IT).
These upcoming projects aim to enhance Pakistan’s infrastructure and foster economic growth, creating new opportunities for businesses and communities. Overall, this financing deal with China and the ongoing discussions reflect a strong commitment to improving Pakistan’s transport network and supporting economic development.
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