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Business & Finance

Pakistan, China sign $100mn grant agreement to repair National Highway-5

  • Under the project, 66 kilometers in four parts will be repaired including Hala and Moro.
Published December 31, 2020
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Pakistan and China have signed a grant agreement of $100 million to repair National Highway-5.

The signing ceremony for Letter of Exchange (LoE) for “Rehabilitation of Specific Sections of National Highway N-5 Project” in this regard was held at Economic Affairs Division in Islamabad on Thursday.

Under this agreement, China will provide grant assistance of RMB 659.8m i.e. $100mn for the rehabilitation of 66KM section of N-5 between Hala (District Matiari) and Moro(District Naushahro Feroze), Sindh.

The project will help to improve road infrastructure and augment North-South connectivity. Minister for Economic Affairs Makhdoom Khusro Bakhtiar and Chinese Ambassador to Pakistan Nong Rong were also present on the occasion.

The Minister lauded grant assistance extended by China for various infrastructure and socio-economic projects in Pakistan.

Speaking on the occasion, Makhdoom Khusro Bakhtiar said this project will increase connectivity between North and South. He thanked China for supporting Pakistan for the completion of the NH-5 project, fighting against COVID-19, and curbing the locust.

The Chinese Ambassador in his remarks said that cooperation in socio-economic development with Pakistan will continue.

Earlier, during the Chinese envoy called on National Assembly Speaker Asad Qaiser, he informed the NA Speaker that with the advent of 2nd phase of the China-Pakistan Economic Corridor, socio-economic, industrialization, agriculture and scientific and technological sectors would be focused.

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