Beijing: China has demanded an outstanding due of USD 55.6 million from Pakistan related to the Lahore Orange Line Project. It has asked Islamabad to clear it by November 2023.
Meanwhile, Pakistan is in political as well as economic turmoil. The Pakistan Opposition parties have brought a no-confidence motion against Prime Minister Imran Khan and its economy is in shambles due to rising inflation, unemployment and a surge in food-item prices.
M/S China Railway-North Industries Corporation (CR-NORINCO), while highlighting the delay in various payments despite the timely completion of the “Lahore Orange Line Project” has demanded the Punjab Mass Transit Authority (PMTA) release the outstanding due of USD 45.3 million by March and the remaining outstanding amount of USD 10.3 million by year-end.
The USD 922 million projects was completed on October 8, 2020, after a 25-month delay.
The company has been insisting that all dues be cleared before the expiry of the contract or November 16, 2023, reported local media.