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Print Print edition: 2022-10-20

CPEC: PM given briefing ahead of China visit

  • Shehbaz terms ML-1 project as a game changer for Pakistan
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By Zaheer Abbasi
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ISLAMABAD: Prime Minister Muhammad Shehbaz Sharif has termed the ML-1 project as a game changer for Pakistan and the flagship project of the China-Pakistan Economic Corridor (CPEC).

The prime minister made these remarks while chairing a review meeting on the progress of CPEC and other Chinese projects on Wednesday.

In the meeting, a detailed briefing was given on infrastructure projects, especially (ML-1), Karachi Circular Railway, Karakoram Highway, and other projects. Apart from this, 10,000-megawatt solar power project and hydropower projects were also discussed. The current situation of CPEC projects, ongoing work and a comprehensive action plan to speed up the pace of these projects in the future were presented to the meeting. In the meeting, Sindh chief minister thanked the prime minister for making Karachi Circular Railway (KCR) a part of the CPEC.

The prime minister stated that the completion of the CPEC projects within the specified period was a national priority. He issued instructions to work on them.

The premier stated that the ML-1 project will play an important role in the economic development of the country by connecting Pakistan’s ports with China and the Central Asian states. This project is the backbone of Pakistan Railways, he added.

PM’s upcoming China visit: RMB account, rescheduling of loans likely

The prime minister said that Pakistan welcomes the interest of Chinese companies in investing in Pakistan’s solar energy projects and added that the CPEC is now moving from a government-to-government phase to a business-to-business phase. He said that the Karachi Circular Railway (KCR) will reduce the traffic problems in Karachi and provide safe travel facilities to the residents of the megacity.

The meeting was attended by former Prime Minister Shahid Khaqan Abbasi, federal ministers, Ahsan Iqbal, Khawaja Saad Rafique, Salik Hussain, Syed Naveed Qamar, Marriyum Aurangzeb, Syed Murtaza Mahmood, Tariq Bashir Cheema, and others, while the Sindh chief minister participated in the meeting through video link.

Copyright Business Recorder, 2022

CPEC hydropower projects Solar power projects Prime Minister Shehbaz Sharif Karakoram Highway KCR project ML1 project Chinese projects

Comments

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Az_Iz Oct 20, 2022 07:43am
CPEC was a game changer. Then it was Reko Diq and Thar coal. Now it is ML-1.
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Saqib Oct 20, 2022 11:26am
The growth achieved in the last two 2 fiscal years was not based entirely on the consumption as there were genuine improvement seen in our Export sector and import substitute side!! As far as structural reforms are concerned there were some real reforms achieved in the State bank and its affiliated bodies,the contracts with IPPs were negotiated and all other sectos to be improved were atleast discussed and attempted at!!
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MalikSaabSays Oct 20, 2022 01:08pm
The current energy payments, circuar debt, and current account deficits fiasco came about because of the Sharif's and Zardari govts' mortgaging basic tenets of the economy to foreign players in the name of 'investment'. The previous imported energy plants were doled out with expensive and non-sensical guarantees that are dragging us below water. Here's a fool's hope that it wont be done again in the same manner the umpteenth time around. But it will happen again, because man learns from history that man never learns from history.
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rana altaf Oct 22, 2022 07:35am
The ML1 should be all electric. Link the Thar Power to run electric train. Next PSO future plan is to heavy investment in LNG storage. This is the best example of non professionalism of chairman statement that it is against the mission statement of energy ministry to say NO to imported energy policy. Rather the PSO should investment in Electric Charging stations and investment in Thar or means that these resources should be invested in generating electricity in Thar coal and link it.
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