Finance Minister Muhammad Ishaq Dar on Friday chaired a meeting to review matters related to the upcoming Pakistan-China Joint Co-operation Committee (JCC) on China-Pakistan Economic Corridor (CPEC) scheduled for December 28-29. An official statement said the secretary Planning, Development and Reforms briefed the finance minister over the implementation status of various projects under the CPEC, while secretary Economic Affairs Division briefed the meeting on development assistance for the ongoing and upcoming CPEC projects.
The finance minister appreciated the ongoing efforts of Planning Division, EAD, FBR and all other stakeholders to make CPEC a success. He said that CPEC will provide a major impetus to Pakistan''s economy and enable higher, inclusive and sustainable economic growth. He urged all stakeholders to ensure timely and successful completion of various CPEC projects, and wanted all government ministries and departments involved in the implementation to ensure effective co-ordination.
Sources said Pakistan side may take up inclusion of Quetta Mass Transit and Karachi Circular Railway (KCR) projects with the Chinese side in the JCC meeting. Prime Minister Nawaz Sharif has directed the Ministry of Planning, Development and Reforms during a recent meeting to take up these projects with the Chinese side for their implementation under the CPEC.
The Prime Minster also gave approval to the inclusion of Quetta Mass Transit Project, being sponsored by the Balochistan government, and KCR, sponsored by the Sindh government, in the CPEC. Sources added that modalities for both projects will be discussed with the Chinese side; however, cost of these projects including the loan repayment will be the responsibility of respective provincial governments. The federal government may consider grant of exemptions from withholding income tax beyond a specific percentage on import of equipment for these projects.