KARACHI -- Pakistan has chopped a third of its contribution to the China-Pakistan Economic Corridor (CPEC), a high profile component of China's massive Belt and Road Initiative, setting back some flagship projects backed by China's President Xi Jinping.
With the economic damage caused by the COVID-19 pandemic still being tallied, the annual CPEC allocation has been reduced from $241 million last year to $159 million in the budget running to June 2021.
