China to give $1bn grant for less privileged areas: Bakhtiar

ISLAMABAD: Minister for Planning and Development Makhdoom Khusro Bakhtiar on Sunday asserted that China would release $1bn grant for less privileged areas in the country.

Talking to journalists, Khusro Bakhtiar said that the government would take benefit from Chinese model to eliminate poverty from the country. He said that China would also invest in petrochemical sector.

Khusro Bakhtiar said that special economic zones under China-Pakistan Economic Corridor (CPEC) would be made functional soon. He said that the government would take measures to boost agriculture sector and would reduce import.

The minister said that the Prime Minister Imran Khan’s focus was on elimination poverty from the country. He said that the PTI-led government was finalizing Gwadar’s master plan.

Read More: Special Economic Zones being established to harness economic development: Khusro

Earlier, Planning Minister Khusro Bakhtiar, December 21, had said that efforts were being made to establish Special Economic Zones (SEZs) for economic development in the country.

He had said this during a visit to Chinese Development and Research Centre in Beijing. The minister had said Gwadar was being developed as driving force for the country and establishment of Petrochemical Complex would give a new dimension to Gwadar.

He said the China Pakistan Economic Corridor (CPEC) was important project of the Belt and Road Initiative.