Minister pushes for AIIB financing of Sukkur-Hyderabad motorway

News Image

MG News | November 07, 2024 at 11:25 AM GMT+05:00

0:00

November 07, 2024 (MLN): Federal Minister for Economic Affairs, Ahad Khan Cheema, yesterday urged the Asian Infrastructure Investment Bank (AIIB) to consider financing the Sukkur-Hyderabad section of the Karachi-Peshawar Motorway (PKM) (M-6), which would complete the motorway network from Karachi to Peshawar.

He made these remarks during a meeting with Konstantin Limitovskiy, Vice President of the AIIB, who discussed AIIB’s current projects, pipeline portfolio, and opportunities for new financing initiatives in Pakistan.

The Secretary of the Economic Affairs Division also attended the meeting.

In his opening remarks, Minister Cheema expressed gratitude for AIIB’s steadfast support, particularly during the 2022 floods.

He commended the Bank’s investment in Pakistan and recommended that AIIB enhance its presence in Pakistan at a senior level when the volume of investment increases.

Minister Cheema also acknowledged the Bank’s commitment to the Project Preparation Special Fund (PPSF) for the preparatory work on the Improvement and Widening of the N-5 Project, expressing satisfaction with AIIB’s contributions to its financing and progress.

He emphasized that AIIB’s involvement would be instrumental in the project’s success.

Highlighting the government’s priorities of regional connectivity and economic growth, Minister Cheema conveyed Pakistan's high regard for AIIB’s support in infrastructure development.

The Secretary of the Economic Affairs Division requested AIIB to expand its portfolio in Pakistan, particularly emphasizing the strategic importance of the N-5 as a high-priority government project.

Limitovskiy, AIIB Vice President, expressed confidence in the Economic Affairs Division's project review process and anticipated timely resolution of outstanding project issues.

He reaffirmed AIIB’s commitment to prioritizing the N-5 Project and praised Pakistan’s cooperation in advancing the Bank’s portfolio. Additionally, he indicated AIIB's interest in exploring future investments in Pakistan's energy transmission sector.

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 138,412.25
167.69M
0.32%
447.43
ALLSHR 85,702.96
423.92M
0.15%
131.52
KSE30 42,254.84
82.09M
0.43%
180.24
KMI30 194,109.59
84.37M
0.15%
281.36
KMIALLSHR 56,713.67
217.03M
0.03%
16.37
BKTi 37,831.34
13.04M
1.62%
603.62
OGTi 27,440.63
3.93M
-0.09%
-23.70
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 118,935.00 119,440.00
118,260.00
640.00
0.54%
BRENT CRUDE 71.82 73.17
71.75
-0.69
-0.95%
RICHARDS BAY COAL MONTHLY 96.50 0.00
0.00
2.20
2.33%
ROTTERDAM COAL MONTHLY 104.50 104.50
104.50
-0.30
-0.29%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 68.53 69.79
68.45
-0.68
-0.98%
SUGAR #11 WORLD 16.43 16.58
16.42
-0.16
-0.96%

Chart of the Day


Latest News
July 30, 2025 at 04:11 PM GMT+05:00

PSX Closing Bell: You Can’t Always Get What You Want


July 30, 2025 at 03:47 PM GMT+05:00

CCP resolves 223 cases, recovers Rs360m


July 30, 2025 at 03:15 PM GMT+05:00

SBP keeps policy rate unchanged at 11%


July 30, 2025 at 03:09 PM GMT+05:00

LSE Capital exits Ensmile Limited


July 30, 2025 at 03:06 PM GMT+05:00

PMYP, PILDAT sign landmark LOI to strengthen youth



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg