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I
INP
June 4, 2020

Pak-China economic cooperation moves forward amid COVID-19

World

I
INP
June 4, 2020

ISLAMABAD: Pak-China economic cooperation moves forward with the arrival of the first bulk cargo ship ‘MV Manet’, carrying wheat and urea of Afghanistan Transit trade, at China-supervised Gwadar Seaport, says a report published by Gwadar Pro.

Special Assistant to Pakistan’s Prime Minister for Information and Chairman, CPEC Authority, Lieutenant General ( retired) Asim Saleem Bajwa says it is like a dream come true for the local economy as it will stimulate a host of business activity.

This development can be aptly termed as a big accomplishment within the framework of Pak-China economic cooperation at a time when the development works are moving at a snail’s pace in other parts of the world. In this manner, China and Pakistan’s joint ventures are surpassing the pace and quantum of development activities in the rest of the world.

The prompt initiation of ML-1 Railway project under CPEC is another good news. Last Saturday, Pakistan’s Minister for Railways, Sheikh Rashid Ahmed, declared publicly that ML-1 project has been given serious thought vis-à-vis its different implementation phases.

The minister thanked the leadership of China for paving the way for new job opportunities for 100,000 (one hundred thousand) Pakistanis, during the initial phases, with the help of this state-of-the-art railway project that can be described as a priceless gift from China’s Iron Brothers for Pakistan.According to Pakistan’s Minister for Railways, chances of accidents on the Pakistani rail track would reduce almost to a naught after the laying down of a double-track under the supervision of Chinese engineers, from Karachi seaport at one end of the country, to Peshawar, at the other end of Pakistan, bordering Afghanistan.

It is worth mentioning that the completion of ML-1 project will provide low-cost transportation for cargo and passengers, bringing benefits to 70 % of the population of Pakistan along ML-1.A very important aspect of CPEC is that its energy projects are foreign direct investment (FDI), based on commercial contracts, which are in accordance with the standard clauses provided by the Pakistani government.