ISLAMABAD – China decides to invest another $23 billion into Pakistan formultiple mega projects in Railways, Oil and Gas and the steel sector ofPakistan.
Planning Minister Khusro Bakhtyar says industrial base of the country wouldbe expanded under China Pakistan Economic Corridor’s next phase to helpincrease national exports.
Addressing the 3rd annual two-day conference on CPEC Consortium ofUniversities in Islamabad on Monday, he said the Chinese government isinvesting one billion dollars in socio- economic sector in two yearsincluding cooperation in higher education.
He said the Chinese government has also offered twenty thousandscholarships for Pakistani students to avail chances of higher educationbesides financing to build one thousand small schools in different areas ofthe country.
Khusro Bakhtyar said Pakistan and China have broadened the cooperationthrough CPEC, in areas of socio- economic development, agriculture,industries, infrastructure, energy and people to people contacts throughthe universities for enhancing the multilateral relations between the twocountries.
The Minister said China has also decided to invest ten billion dollars inoil and gas sector and four billion dollars in local steel sector throughCPEC projects.
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He said a 9 billion dollar project was also approved for railway line fromPeshawar to Karachi for providing better transport facilities to the people.
He said the government has taken several important decisions that paved theway for finalization of Gwadar Master Plan and preliminary design of ML-1project, operationalization of Gwadar Port and free zone.
Addressing the conference, Ambassador of China to Pakistan Yao Jing saidthat Universities Consortium on CPEC would play vital role for thecompletion of this mega project.
He said CPEC provides platform for cooperation to connect the society,institution and people of the both sides.
