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The Today's News

China to fund Gwadar-Rato Dero highway: sources

ISLAMABAD: With fully prepared to take charge of strategic deep water Gwadar port formally this month or next, People’s Republic of China, Pakistan’s time-tested ally and all-weathers friend, now plans to extend financial aid to Islamabad for the construction of Gwadar-Rato Dero highway. Sources told Geo News that Beijing would grant $700 million aid to Pakistan, which has long been facing scarcity of funds with its economy marred by precarious law and order situation, for construction of Gwadar’s East Bay Road and other infrastructure. The sources said that Beijing is determined to make the port successful.