China spurns new CPEC projects for Pakistan citing political instability
China has rejected the calls for investing in fresh Belt and Road projects in Pakistan, citing political uncertainty and deteriorating security plaguing Islamabad, Nikkei Asia reported.
The Chinese side reportedly turned down Pakistan’s suggestions to add more projects related to energy, climate change, electricity transmission lines and tourism under the China-Pakistan Economic Corridor (CPEC) — the USD 50 billion Pakistani component of the Belt and Road.
Nikkei Asia reported citing minutes of the meeting, that Beijing declined Islamabad’s proposal to build a 500-kilovolt transmission line to connect the southern port of Gwadar — a focus of Chinese infrastructure investment — to the national electricity grid from Karachi, according to the officials.
