Govt asked to slow down work on ML-I financing deal
The Economic Affairs Division (EAD) has recommended caution in finalizing a financing agreement for the China-Pakistan Economic Corridor (CPEC) Mainline-I (ML-I) project, a nearly $6 billion Chinese loan. This suggestion aims to avoid complications in the project's implementation. The advice comes amid objections from the deputy chairman of the Planning Commission regarding the revision of the project cost without seeking approval from the commission. The ML-I project's cost is reduced to $6.67 billion, and Pakistan expects 85% of the funding as a Chinese loan.