CPEC: Pakistan and China to ink new mega projects worth billions of dollars

CPEC: Pakistan and China to ink new mega projects worth billions of dollars

ISLAMABAD - The 9th Joint Cooperation Committee (JCC) of China Pakistan Economic Corridor (CPEC), the highest forum of the corridor, is scheduled to be held in Islamabad on November 5.

The JCC, according to sources, would deliberate on recent developments pertaining to Main Line-1 (ML-I), special economic zones (SEZs), Karachi Circular Railways, Kohala and Azad Pattan hydropower projects. However, sources added, no new power project would be added to the CPEC portfolio in the upcoming JCC.

As per details, a delegation headed by China’s National Development and Reforms Commission (NDRC) vice-chairman would be visiting Islamabad in the first week of next month.

Apart from the deliberation on mega projects during the JCC, the NDRC vice-chairman would also inaugurate 300MW coal power plant in Gwadar.

Ahead of the JCC, there would be a meeting of the senior officers to discuss the decisions of various Joint Working Groups of CPEC, and to make recommendations regarding the deliverables to the JCC.

The meeting, which would be jointly chaired by Pakistan’s planning minister and NDRC vice-chairman, would be attended by provincial chief ministers, federal ministries and divisions.

According to the officials, as the government has already established a financing committee on ML-I, its financing structure, loans, interest on loans and tenure of return would be discussed during the JCC meeting. Besides, the JCC would also decide about the inauguration of the Rashakai Economic Zone, which is ready for the groundbreaking.