BEIJING: Minister for Planning, Development and Reform Makhdum Khusro Bakhtyar on Wednesday invited Asian Infrastructure Investment Bank (AIIB) and Chinese corporate leaders to forge a sustainable long-term partnership with Pakistan aimed at financing projects that contribute to overall economic growth of the country.
According to a statement released from the ministry, Khusro Bakhtyar extended this invitation while meeting with the president of AIIB Mr. Jin Liqun and leadership of Chinese companies including China Railway Construction Corporation, Huawei, Norinco and others on the sideline of China Pakistan Economic Corridor’s (CPEC) 8th Joint Cooperation Committee (JCC) meeting, scheduled to be held on 20th December here.
AIIB could explore opportunities of partnership in Dasu and Mohmand Dam projects which are in the planning stage, proposed the minister. “We are introducing integrated energy policy and look for investment in transmission line projects and up-gradation of the distribution system.
In a meeting at AIIB Headquarters, Makhdum Khusro Bakhtyar said that Pakistan has received a solid investment in energy generation portfolio; however now Pakistan is encouraging projects based on hydel or renewable resources, reads the statement.
Minister further said that government also promote the implementation of economically viable projects in infrastructure, capacity enhancement of ports and shipping, sustainable mass transit system and development of small rural and urban centers.
Mr. Jin Liqun, the president of the Asian Infrastructure Investment Bank told that projects worth US $ 1.68 billion in the different sectors are being financed by his bank in Pakistan.
He vowed to support transmission line, hydel energy generation and other projects that could support Pakistan’s economic growth.
The minister, in his separate meeting, invited Chinese enterprises to heavily invest in Pakistan’s industrial, socio-economic, agriculture and transport infrastructure sectors. He said that Pakistan and China are agreed on timely completion of CPEC ongoing projects and its future course to explore new areas of cooperation in socio-economic development, accelerating cooperation in industrial and agriculture sector.
He said that the Rashkai Economic Zone would be implemented in the first quarter of the year 2019 and rest eight SEZs would follow the same line.
He was of the view that Pakistan can fully utilize Chinese experiences in corporate agriculture and added that Pakistan wishes to launch projects in the transport sector with a special focus on the development of ports, rail and roads, through a feasible financial model that may create the least burden on Pakistan’s economy.
The Chinese corporate sector has shown interest to launch projects in the socio-economic sector including water supply and sanitation, education, health, low-cost housing and skill development. All the decisions with respect to new projects would be placed before the approval of JCC on Thursday, 20th December.
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