ISLAMABAD – In a big move, Pakistan and China to finalise mega projectsworth billions of dollars under CPEC.
Planning Minister Makhdoom Khusru Bakhtiyar has said Pakistan is committedto take China-Pakistan Economic Corridor to new heights and the PTIGovernment has increased its volume and scope.
Addressing a news conference in Islamabad on Friday, he said the Pakistanside will take up issues pertaining to ML-I, development of coastal areas,Gwadar Master Plan, and other aspects of CPEC cooperation during theupcoming meeting of Joint Coordination Committee (JCC) of CPEC to be heldon Wednesday.
Regarding ML-1, the Minister said that this project is being completed at acost of eight to nine billion dollars which will help improve country’srailways system as well as revamping of economy. He said industrialcooperation is the future of CPEC and Pakistan and China have formed aforum of industrialists from both the countries and efforts will be made tooperationalize this forum.
The Minister said Western Corridor of CPEC will be discussed in the meetingand hopefully Islamabad-Quetta link be completed in next three years. Hesaid special incentives for Chinese and other investors to attract foreigninvestment, ways and means of operationalization of Pakistan Steel Mills tomeet country’s steel requirements will be deliberated in the committeemeeting. He said cooperation in sectors like oil and gas, mineraldevelopment, housing, tourism and new long term plan will be discussed.
Speaking on the occasion Railways Minister Sheikh Rashid Ahmed said therewill be no railway crossing on 1872 kilometer long ML-1 track as the entireroute will be fenced. He said the train will run at a speed of 160kilometers per hour after ML-1 is completed.
Energy Minister Omar Ayub Khan said Chinese side will be discussed toinvest in energy sector in order to enhance the share of renewable sourcesin the energy mix to 30 percent by 2030. He said using renewable sources ofenergy will help bring down bill of imported fuel.
Special Assistant to Prime Minister Nadeem Babar said government is goingto auction more than thirty oil and gas blocks in next twelve months. Hesaid roadshows in this regard have been held in Europe, Russia and MiddleEast to attract investors to invest in oil and gas blocks. He said duringthe JCC, Chinese side will be asked to invest in up-gradation of oilrefineries as well as construction of new ones to increase refiningcapacity of the country.
Special Assistant on Information and Broadcasting Dr. Firdous Ashiq Awansaid all economic indicators of the country are moving in positivedirection due to decisions made by incumbent government. She said thegovernment has allowed the opposition parties to hold a rally in thecapital without creating any hurdle as Prime Minister Imran Khan trulybelieves in strengthening of democracy.