ISLAMABAD: Chinese ambassador to Pakistan Yao Jing has said that China and Pakistan had constituted a joint committee to explore financing modalities and find appropriate financial package for the mega Main Line (ML-1) railway project.
Addressing media persons here on Wednesday night, the envoy said that due to huge financial implication, the project was facing little delays however it would not further slowdown as the committee would soon finalize appropriate financial package to fund the project.
The ML-1 project is part of China Pakistan Economic Corridor (CPEC) under which, the 1,872 kilometers railway track from Peshawar to Karachi would be upgraded at an estimated cost of around US $9 billion.
The Chinese embassy arranged a reception for media persons here in connection with Chinese Lunar Year.
Yao Jing rejected the rumours of slowing down of CPEC project saying that work on CPEC projects was being executed according to the plan.
“In fact there is no mega project being executed presently, therefore it seems that the project has been slowed down,” he said adding there are lot of small projects under implementation under CPEC across the country, which are not tangible though but are very important.
He said in Gwadar city, five main projects were being executed under CPEC including a vocational training centre, a 200 beds hospital, water desalination plant, and new airport.
In social, health and education sectors, he informed the media persons that there were 27 projects were being implemented under CPEC across the country.
The envoy pointed out that the CPEC had entered in its second stage where social, industrial and agriculture sectors would remain areas of special focus.
The envoy said that a number of Chinese agriculture companies were coming to Pakistan to purchase more value added agriculture products.
Further he said that as per vision of Prime Minister Imran Khan to alleviate poverty, several villages of backward areas of the country were being made model of poverty alleviation.
He further said that a new area was being included in CPEC that was science and technology to produce more high value added products in the country.
He said the Western media was up against Pak-China relations especially against the CPEC and this propaganda must be negated via disseminating the positive and true picture by media of both China and Pakistan.
The Chinese ambassador said that last year China had completed 70 years of its creation, during that time it witnessed many ups and downs with the world, however Pakistan remained the strongest, firmest and the best friend of China.
“We also celebrated 70 years of friendship with Pakistan,” he said adding that after launch of CPEC, the bilateral relationship entered a new era of mutual cooperation.
IMF forecasts slower growth, higher inflation for Pakistan
ISLAMABAD: The International Monetary Fund has projected slower economic growth and higher inflation for Pakistan, highlighting the need for continued...
