ISLAMABAD: China Pakistan Economic Corridor (CPEC) has reportedly hit snags as the Chinese banks/ financial institutions are reluctant to fund the projects due to current state of affairs, well informed sources told Business Recorder.
In the past, the incumbent government’s Ministers openly accused former Chief Minister Punjab( currently Leader of Opposition in National Assembly), Mian Shahbaz Sharif and former Minister for Planning, Development and Reforms, Ahsan Iqbal of taking kickbacks in Chinese projects being established in CPEC. National Accountability Bureau (NAB) also started investigations which were later on shelved.
The issue of banks/ financial institutions reluctance in funding the projects