ISLAMABAD, Jan. 12 -- The Asian Development Bank (ADB) has warned that a $360 million loan for the Central Asia Regional Economic Cooperation (CAREC) Corridor Development Investment Programme's Tranche III could lapse next year if the project is not expedited. The loan, intended for widening sections of the N55 Highway, has faced significant delays due to controversies in the bidding process.

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The project has been stalled for eight months despite bids being opened in February 2025 and approved by the ADB. Parliamentary standing committees and the Public Procurement Regulatory Authority (PPRA) scrutinized the process, slowing implementation. The ADB cautioned the Econom...