In a significant development, the United Kingdom has become a partner in China-Pakistan Economic Corridor and agreed to provide $121.6 million in grant to fund construction of Burhan-Havelian Expressway, which falls on the northern route of the corridor. The Asian Development Bank (ADB) and the Department for International Development (DFID) of the United Kingdom will co-finance the $327 million cost of the 59km-long Hassanabdal-Havelian Expressway (E-35) project, according to a handout issued by the Manila-based lending agency on Tuesday. UK’s $121.6 million grant will lessen Pakistan’s debt obligations by the same amount. The country had entered into a loan agreement with ADB, which will now be picked up by UK taxpayers to the extent of the grant amount. This is indeed a significant development as cooperation between ADB and the UK would encourage many other countries and multilateral institutions to support CPEC-related projects, which have the potential to change the entire landscape of Pakistan besides promoting economic activities and regional trade. It is understood that when a project of this magnitude involving different stakeholders would be completed, the inter-dependencies so created would help create right kind of conditions for promotion of peace and security. It is because of this that saner and visionary countries are extending their support to the project but those with bias against Pakistan are trying to create obstacles in the way of itsimplementation. Indeed the credit goes the Government for its unwavering resolve to arrange necessary finances for different aspects of the multi-dimensional project and starting physical work on them so that there is no roll-back on any pretext. It is also encouraging that the Armed forces are also fully behind the project by way of providing security in the face of challenges being thrown by our enemies.
pk.shafaqna.com
