ISLAMABAD: Pakistan and the Asian Infrastructure Investment Bank (AIIB) on Tuesday signed a $320 million loan agreement for the reconstruction and improvement of critical sections of the N-5 highway — the country’s longest national highway from Karachi to Torkham near the Afghan border. The loan agreement was signed for “Reconstruction of National Highway N-5 under Pakistan’s Resilient Recovery, Rehabilitation and Reconstruction Framework Project,” amounting to $320.16 million. The project will cover critical sections of the N-5, which traverses Sindh, Punjab, and Khyber Pakhtunkhwa, serving as a backbone of Pakistan’s transport network.

LAHORE: The Punjab government’s new wheat procurement mechanism is struggling, as private firms are experiencing buying failures due to pricing disputes, financing issues, and farmer resistance. Under the 2026 strategy, the government aimed to procure 3 million tonnes of wheat through 11 private companies, shifting away from its traditional state-led buying model. To incentivise participation, authorities offered extensive support: negotiating bank loans, covering 70 per cent of markup costs, providing free storage in Food Department warehouses, and assigning around 400 experienced personnel to assist firms during procurement.