ISLAMABAD: Pakistan and China decided to speed up the process of finalising a framework agreement for the China-Pakistan Economic Corridor (CPEC) under which, China has promised to invest $45.6 billion in Pakistan, pledging to resolve the outstanding issues in the next three months
Beijing will inject around $33.8 billion into energy projects and $11.8 billion into infrastructure schemes. Moreover, in the area of energy, $15.5 billion worth of coal, wind, solar and hydroelectric power projects were planned to be completed during the tenure of the present government.
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Both the sides agreed to delay the signing of the long-term framework as differences over modalities could not be fully settled during the visit of a Chinese expert group.
They stressed the importance of accelerating the drafting of the CPEC long-term plan, which was scheduled to be finalised by July, says a press. They said that CPEC should be promoted on a priority basis and step by step, incorporating long, short and medium-term needs of the two countries.
