ISLAMABAD: Pakistan and China are all set to sign different agreements worth $10-15 billion during the ongoing visit of Prime Minister Imran Khan including rollover of $4 billion deposits, fresh loan of $4 billion, and other projects.
However, both sides have so far been unable to make progress on the much-delayed multibillion-dollar project of Mainline-1 (ML-1) despite making of efforts, as the financing agreement has not yet been firmed up.
Pakistan’s federal cabinet also granted approval for signing of much-awaited industrial cooperation between the two countries under China-Pakistan Economic Corridor (CPEC). “Pakistani authorities are expecting that the ongoing visit of PM Imran Khan will pave the way for boosting bilateral relations and minimum size of cooperation will be over $10 billion,” official sources confirmed to The News on Friday.
While the parties are proactively promoting, facilitating and executing the long-term industrial development plan, China-Pakistan Economic Corridor (CPEC) is a framework of regional connectivity, infrastructure development, and industrial cooperation which will not only benefit the parties but also have a positive impact in the region.
The success of the early harvest projects pertaining to energy and infrastructure has set the foundation for CPEC to enter the pragmatic phase of an enhanced level of industrial cooperation, leading to substantial investment and financing from Chinese government and Chinese private enterprises with...
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