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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Russian President Vladimir Putin declared Ukrainian forces pushed out of Kursk, but Ukraine insists its troops are still operating in the region.
Indian and Pakistani troops exchanged gunfire for a second consecutive day on Saturday, as relations between the two nuclear-armed neighbors deteriorated following a deadly attack on tourists in India’s Kashmir region.
President Donald Trump has expressed scepticism over Vladimir Putin’s willingness to end the war in Ukraine, suggesting that peace may not be achievable soon, despite earlier comments indicating proximity to a deal.
The Syrian Ministry of Defense on Thursday accused Hezbollah militias of firing artillery shells from Lebanese territory toward Syrian army positions in the al-Qusayr area west of Homs.
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