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Islamabad: Federal Minister for Economic Affairs, Mr. Ahad Khan Cheema, engaged in discussions with Mr. Konstantin Limitovskiy, Vice President of the Asian Infrastructure Investment Bank (AIIB), regarding ongoing and future infrastructure projects in Pakistan. The meeting was also attended by the Secretary of the Economic Affairs Division.
According to Press Information Department, Minister Cheema expressed appreciation for AIIB’s support during the 2022 floods and commended the bank’s investments in Pakistan. He proposed that AIIB increase its senior-level presence in the country with the growth of investment volumes. The minister highlighted AIIB’s involvement in the Project Preparation Special Fund (PPSF) related to the Improvement and Widening of the N-5 Project, emphasizing its importance in achieving project success.
Minister Cheema pointed out the significance of regional connectivity and economic growth, expressing Pakistan’s high regard for AIIB’s contributions to infrastructure development. He urged AIIB to consider financing the Sukkur-Hyderabad section of the Karachi-Peshawar Motorway (PKM) (M-6), which would complete the motorway network from Karachi to Peshawar.
The Secretary of the Economic Affairs Division emphasized the strategic importance of the N-5 project, requesting an expansion of AIIB’s portfolio in Pakistan. AIIB Vice President Mr. Limitovskiy expressed confidence in the Economic Affairs Division’s project review process and anticipated resolving outstanding project issues promptly. He reaffirmed AIIB’s commitment to prioritizing the N-5 Project and acknowledged Pakistan’s cooperation in advancing AIIB’s portfolio. Furthermore, Mr. Limitovskiy showed interest in exploring future investments in Pakistan’s energy transmission sector.
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