ISLAMABAD: 01, JANUARY, 2021: China and Pakistan inked an agreement worth $100 million grant assistance for rehabilitating a road including National Highway (N-5) and expanding the North-South connectivity. 

According to the Ministry of Economic Affairs, the $100 million grant was the highest amount given by China in recent years to Pakistan. It added that, a Letter of Exchange for rehabilitation of specific sections of National Highway N-5 project was signed by both sides. 

Under this agreement, Government of China will provide grant assistance of RMB 659.8 million (US $100 million) for repair of four sections (66 kilometres in total)) of National Highway (N-5) between Hala (Matiari district) and Moro district Naushahro Feroze) in Sindh province, said a press release issued by Ministry of Economic Affairs. 

Ambassador of the People's Republic of China to Pakistan Nong Rong called on Minister for Economic Affairs Makhdum Khusro Bakhtyar at his office. 

During the meeting, Pak-China economic relations, China Pakistan Economic Corridor (CPEC) projects and other matters of mutual interest came under discussion.

Economic Affairs minister in the meeting, lauded the grant assistance extended by Government of China for various infrastructure and socioeconomic projects in Pakistan and also appreciated the significant work of Joint Working Groups on socioeconomic development and transport infrastructure under CPEC.

During the meeting, the two sides also discussed the progress of ongoing projects financed by the Chinese government. (04)