ISLAMABAD: Minister for Planning, Development and Special Initiatives Ahsan Iqbal on Monday said that Prime Minister Shehbaz Sharif’s China visit would give a new dimension to Sino-Pak bilateral relations and it would take the trade relations to new heights as the both countries would sign multiple projects worth billions of dollars.
Speaking at a presser, he said that the prime minister’s visit to China will help preparing a roadmap to take the country’s annual exports from $32 billion to $100 billion and beyond.
“During the visit of the prime minister, Pakistan will sign an agreement with China to seek first-hand technical experience from the all-weather friendly country,” he added.
He said that Sharif will be the first foreign leader visiting China after re-election of President Xi Jinping for his third term in the office.
He said that China-Pakistan Economic Corridor (CPEC) project is inevitable for the progress and prosperity and it has to be diverted towards industrial cooperation.
“China, on many occasions has expressed its desire to help Pakistan making industrial economy but unfortunately previous government of Pakistan Tehreek-e-Insaf (PTI) wasted four precious years by suspending the most important mega project of CPEC. China’s economic development is based on its industrial progress, now industrial cooperation will be promoted under the CPEC. It will bring new opportunities for jobs and employment,” he said.
The minister highlighted that Pakistan’s most important project was the railway’s ML-1 as the existing system had become outdated therefore this project would have to be initiated on emergency basis.
He claimed unfortunately, due to the criminal negligence of the previous government, this project witnessed zero progress during last several years which also caused increase in cost by $3 billion from earlier approved cost of $6.8 billion to $9.8 billion.
He said that a new project of Karachi-Hyderabad motorway would also be signed during the visit and the work on new motorway between Karachi and Hyderabad would be started after the visit.
He said that similarly Karachi’s KCR project would also be signed during the visit to provide the citizens state of the art transportation facility in line with the orange train in Lahore.
Copyright Business Recorder, 2022
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