LOE inked with China for provision of 'vocational school equipment and material'

ISLAMABAD: Pakistan and China on Wednesday signed Letter of Exchange (LOE) for provision of "Vocational School Equipment and Material" worth $4 million (Rs650 million).

The signing ceremony for LOE was held at the Ministry of Economic Affairs.

The Government of China, under this project, will provide training equipment for the vocational training institutes/schools around Pakistan through the National Vocational and Technical Training Commission worth $4 million (approximately Rs650 million).

Yao Jing, Ambassador of People's Republic of China to Pakistan and Dr Wang Zhihua, Minister Counsellor, Embassy of China in Pakistan, attended the ceremony and from Pakistan side Noor Ahmed, Federal Secretary of Economic Affairs Division signed the LOE.

The LOE was signed by the Chinese Ambassador and Secretary Economic Affairs Noor Ahmed on behalf of their respective governments.

The ambassador reassured cooperation by government of China for socio-economic development in Pakistan. A number of projects under social welfare of the poor and vulnerable people are already under progress such as cooperation in PM's Low-Cost Housing Scheme and boosting rural economy through agricultural support.

The Government of China has also supported Pakistan to mitigate the impact of COVID-19 pandemic, pesticide and equipment has been provided to control the locust spread in the southern parts of the country.

The ambassador also appreciated the continuity of the China-Pakistan Economic Corridor (CPEC) projects particularly establishment of export-based industry in Special Economic Zones (SEZs) despite challenging conditions globally due to the pandemic. China and Pakistan are all-weather strategic cooperative partners, and China will continue to support Pakistan in the fight against COVID-19 and contribute to the implementation of the people-oriented cooperative projects between the two countries with the CPEC as a major platform, Yao added.

Addressing the signing ceremony, Noor Ahmed, thanked the Chinese government for providing the equipment, which is critical for the up-gradation of the vocational schools and the improvement of vocational training capabilities of Pakistan.

He reiterated strong commitment towards further strengthening and expanding of bilateral economic cooperation between China and Pakistan.

Both sides agreed that all the on-going initiatives will be pursued very closely to achieve the targeted completion, so that people of Pakistan can benefit from the Chinese assistance in a more productive manner.

The project is consistent with the vision of the Pakistani government to promote vocational training and enhance productivity within the economy, said Ahmed, adding that Pakistan and China enjoy a very close relationship and China is a true friend of Pakistan that always extends a helping hand to Pakistan in the most challenging times, no matter it is COVID-19, locust attacks or earthquakes.

As per the agreement China will provide computers, equipment and technical training to National Vocational and Technical Training Commission of Pakistan, and the project would cost $4 million. Under the project, 17 vocational schools will be upgraded. Both sides reiterated continued economic cooperation between Pakistan and China.

Copyright Business Recorder, 2020