Unhappy with strict conditions, Pakistan rejects Beijing aid for $14 billion PoK dam
Pakistan has allegedly rejected China’s offers to assist the country in building the $14-billion Diamer-Bhasha Dam, located in Pakistan occupied Kashmir (PoK).
- The Chinese conditions were about taking ownership of the project, operation and maintenance cost and securitization of the Diamer-Bhasha project by pledging another operational dam.
- Pakistan has asked China to remove it from the $60 billion China-Pakistan Economic Corridor and let them build it on their own.
Pakistan has been struggling to raise money from international institutions like the World Bank in the face of Indian opposition to the project on the Indus River in PoK.
Neither the World Bank and Asian Development Bank (ADB) nor China would finance the dam, therefore, the government decided to construct the reservoir from its own resources
Pakistan decided to take the dam project off the table just days before the 7th Joint Cooperation Committee (JCC) meeting with China, which is scheduled for November 21 in Islamabad, it said.
The JCC is the highest decision-making body of the CPEC.