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.
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.
