In the midst of ongoing talks between Pakistan and the IMF regarding a new bailout package, the government is considering its options for handling $6.7 billion in sovereign guarantees in exchange for approval to proceed with the Mainline-1 (ML-1) project under the China-Pakistan Economic Corridor (CPEC).
On May 24, a virtual meeting of the Joint Cooperation Committee (JCC) under the auspices of CPEC is planned. On May 23, the delegates from both sides will get together. Following that, the JCC would think about officially endorsing some projects.
Assent to the ML-1 project is expected to be granted this coming week. It was postponed earlier in the CDWP meeting on May 8.
