ISLAMABAD – Minister for Planning and Development Khusro Bakhtyar hasinvited Asian Infrastructure Investment Bank (AIIB) and Chinese corporateleaders to forge a sustainable long-term partnership with Pakistan aimed atfinancing projects that contribute to overall economic growth of thecountry.
He extended this invitation in Beijing on Wednesday while meeting with thepresident of AIIB Jin Liqun and leadership of various Chinese companiesincluding China Railway Construction Corporation, Huawei, Norinco andothers on the sideline of China Pakistan Economic Corridor’s 8th JointCooperation Committee meeting scheduled to be held tomorrow in the Chinesecapital.
The Minister Khusro Bakhtyar would co-chair the JCC meeting with ViceChairman National Reform Commission of China.
In a meeting at AIIB Headquarters, Khusro Bakhtyar said that Pakistan hasreceived a solid investment in energy generation portfolio, but it is nowencouraging projects based on hydel or renewable resources. He proposedthat the bank could explore opportunities of partnership in Dasu andMohmand Dam projects which are in the planning stage.
President of the Asian Infrastructure Investment Bank said that projectsworth 1.68 billion dollars in different sectors are being financed by hisbank in Pakistan. He vowed to support transmission line, hydel energygeneration and other projects that could support Pakistan’s economicgrowth. He informed that a project to support SMEs was already approved andthis investment would be enhanced with the passage of time.
In a separate meeting, the Minister invited Chinese enterprises to heavilyinvest in Pakistan’s industrial, socio-economic, agriculture and transportinfrastructure sectors.
Minister said that Pakistan and China are agreed on timely completion ofCPEC ongoing projects and its future course to explore new areas ofcooperation in socio-economic development.
Khusro Bakhtyar said that a framework of cooperation in industrial sectorwould be agreed with China during the JCC. It would help to boostPakistan’s industrial capacity through joint ventures in priority areas,relocation of labor-intensive industry and SMEs collaboration. The Ministersaid that the Rashkai Economic Zone would be implemented in the firstquarter of next year and rest eight SEZs would follow the same line.
The Minister while highlighting potential of Pakistan’s agriculture sectorsaid that the cooperation in this sector would promote joint ventures,value addition, cold chain management for fruits and vegetables, marketingand branding that will help the country to overcome its weaknesses.
Minister further intimated that Pakistan wishes to launch projects in thetransport sector with a special focus on the development of ports, rail androads, through a feasible financial model that may create the least burdenon Pakistan’s economy.
He said Pakistan Railways Main Line One is being offered to investors forimplementation under Built-Operate-Transfer mode.
Chinese investors showed a keen interest in the development of transmissionline, infrastructure projects including ML-1, mass transits system and roadprojects.