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.
U.S. President Donald Trump has said a peace agreement with Iran is scheduled to be signed on Sunday in a post on social media, despite Tehran's Fore...
Start your day informed with the AnewZ Morning Brief. Here are the top stories for 13 June, covering the latest developments you need to know....
As the 2026 World Cup kicked off on 11 June across North America, U.S. visa restrictions and travel policies have made it impossible for supporters, ...
Every June, roughly 13 million young people in China sit down at the same time to take the same test. They have been preparing for it, in many cases, ...
European museums are increasingly returning cultural artefacts to countries in Africa and the Middle East, as pressure grows to address the legacy of ...
Armenia has every right to choose Europe. But Europe’s support for Armenia’s direction should not become automatic approval of its political process.
The global race to develop quantum computing is accelerating, with governments and technology firms investing heavily in what is expected to become a major new computing era.
Domestic economic conditions are playing a growing role in shaping the outlook for Azerbaijan, Armenia, Kazakhstan and Uzbekistan, according to global financial services group ING.
Azerbaijan dispatched 17 railway wagons carrying 984 tonnes of diesel fuel to Armenia on Thursday, marking the latest shipment in growing trade between the two countries.
SpaceX has made history with the largest initial public offering ever in the United States, pricing its shares at $135 each and achieving a market valuation of $1.77 trillion.
SpaceX made a historic entrance into the Nasdaq on Friday, surging over 20% in its first day of trading and lifting its valuation to more than $2 trillion. Investors flocked to the world’s largest IPO, betting on Elon Musk’s sprawling empire spanning rockets, AI and beyond.
Pakistan has warned that any attempt by India to block or significantly reduce river flows under the Indus Waters Treaty could have “far-reaching consequences”, after India's water minister said New Delhi was working to ensure that “not a single drop” of water reaches Pakistan in the coming years.
While France hosts next week’s Group of Seven summit, businesses in neighbouring Switzerland have already begun taking precautions, with many shops in Geneva boarded up ahead of a large anti-G7 demonstration expected on Sunday.
U.S. President Donald Trump has said a peace agreement with Iran is scheduled to be signed on Sunday in a post on social media, despite Tehran's Foreign Ministry spokesperson Esmaeil Baghaei saying no deal would be approved this weekend.
Every June, roughly 13 million young people in China sit down at the same time to take the same test. They have been preparing for it, in many cases, since primary school. Their families have rearranged their lives around it.
European museums are increasingly returning cultural artefacts to countries in Africa and the Middle East, as pressure grows to address the legacy of colonialism and disputed ownership.
Uganda’s health ministry has raised concerns over what it described as unfair travel restrictions imposed during the current Ebola outbreak, warning that such measures risk undermining transparent reporting. .
Georgia is overhauling its migration laws in one of the most significant legal reforms in years, introducing criminal penalties for fake marriages, tighter controls on foreign students and expanded investigative powers for the migration authorities.
Start your day informed with the AnewZ Morning Brief. Here are the top stories for 13 June, covering the latest developments you need to know.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment