Pakistan, China sign $100 mln agreement for highway repair project
- By Web Desk -
- Dec 31, 2020
ISLAMABAD: Pakistan and China have signed an agreement worth $100 million for completing the repair of the National Highway (NH) 5, ARY News reported on Thursday.
The agreement signing ceremony for the $100 million grant was held at the Ministry of Economic Affairs which was attended by the Federal Minister of Economic Affairs Makhdoom Khusro Bakhtiar.
Khusro Bakhtiar said that the financial grant will be spent to repair four portions of the 66-kilometre wide National Highway 5 that will increase contacts with north-south parts after the completion of the road repair project.
Read: ‘Pakistan, China committed to timely completion of CPEC projects’
The federal minister thanked China for the provision of a financial grant for the repair project of NH5. He also welcomed China for providing assistance to Pakistan to coup with the challenge of coronavirus pandemic and locust issues.
He said that the China-Pakistan Economic Corridor (CPEC) project possesses vital importance in the friendly ties between both countries.
On the event, the Chinese ambassador to Pakistan said that Beijing will continue its cooperation with Pakistan for socioeconomic development.