ISLAMABAD: The Federal Minister for Finance and Economic Affairs, Dr. Abdul Hafeez Shaikh said that no in-action by line ministry (implementation department) would be allowed in the implementation of the decisions agreed between Pakistan and China during the last visit of Chinese Premier to Pakistan.
This he said while chairing a meeting with Chinese delegation led by Chinese Ambassador to Pakistan Mr. Liu Jian to review the progress in the implementation of the mechanism for the number of projects in which China has pledged to extend technical and financial assistance to Pakistan.
In the post flood Reconstruction Programme, the Chinese Government has pledged to support Pakistan in the reconstruction of a number of projects which included the Grant for Highways and Agriculture, Transport, Energy and Communication, Establishment of China-Pakistan Agricultural Technology Zones, Upgradation of Karakarum Highway and Reallignment of Ataabad Lake, Disaster for Preparedness and Response System and Environment and Ecosystem.
The meeting also deliberated upon the progress in the operationalization and implementation of the agriculture related component under the Economic and Technical Cooperation and reviewed the progress in the finance and banking sector, and the members of the meeting were apprised that the ICBC Industrial and Commercial Bank of China is coming to Pakistan to open its branches in Karachi and Islamabad.
Meanwhile, the meeting also discussed the opening of Pakistan's National Bank of Pakistan Branch in China under the prevalent procedure in the Chinese Banking laws. Under the bilateral trade, China is to send more trade missions to Pakistan, and Pakistani traders to be given access and free space in trade exhibition in the cities of Kashghar, Urmuqi, Kensing and Chengdu.
The Finance Minister asked the concerned officials to give a comprehensive report on the development in this regard.
The other subjects which have been discussed in detail are Pakistan's market access by considering grant of unilateral tariff concession to 228 Pakistani products, launch of second phase of the Pak-China Free Trade Agreement, in the first quarter of 2011, the Establishment of Pakistan China Entrepreneurs Forum, and exploring possibility of establishing trans-border economic zones.
It may be recalled that during last visit of the Chinese Premier to Pakistan, new air routes between Pakistan and China were also agreed to be opened. The meeting also deliberated upon on airport also.
The youth exchange programme was also brought under dicucussion whereby one hundred Chinese and Pakistani youth delegations to visit respective countries to enhance cultural cooperation between the two friendly countries.
Both the sides expressed their satisfaction over the pace of progress in the affore mentioned projects and hoped that if there is any laxity from any quarter shall be overcome with collaboration and coordination with the line ministries and corresponding agencies.
Comments
Comments are closed for this article.