Azerbaijan has offered over $1 billion for Pakistan’s Sukkur-Hyderabad Motorway (M-6), but internal disagreements delay progress amid economic instability.
ISLAMABAD: Azerbaijan has offered Pakistan over $1 billion to fund the $1.2 billion Sukkur-Hyderabad Motorway (M-6), but government departments disagree on the loan structure.
During his visit, PM Shehbaz Sharif sought $1.8 billion for the M-6 and a new Hyderabad-Karachi Motorway (M-9), estimated at $600 million. Azerbaijan proposed either depositing funds in Pakistan’s central bank or directly financing the M-6 with the Islamic Development Bank (IDB).
Pakistan previously missed a $2 billion investment opportunity from Azerbaijan. Meanwhile, China, Saudi Arabia, the UAE, and Kuwait have deposited $12.7 billion to support Pakistan’s reserves.
The Finance Ministry opposes a cash deposit for road construction, preferring direct borrowing. Deputy PM Ishaq Dar urged finalizing investment proposals by April 3.
A feasibility study divides the M-6 into five sections. IDB may fund the first two, while Azerbaijan is interested in the rest. Under a public-private partnership, the project could be completed in 2.5 years.
The federal government recently prioritized a Rs436 billion Punjab motorway over the M-6. Meanwhile, the NHA plans a six-lane M-9 to improve Karachi-Hyderabad connectivity, costing over $600 million. However, political and economic instability continues to deter foreign investment in Pakistan.
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President of the Islamic Republic of Iran, Masoud Pezeshkian, arrived in the Republic of Azerbaijan for an official visit on April 28.
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At the Three Seas Initiative summit, Polish President Andrzej Duda, Lithuanian President Gitanas Nausėda, and Croatian Prime Minister Andrej Plenković briefed reporters after talks with leaders from 11 Central- and Eastern-European states, underscoring regional cooperation on energy.
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