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China's EXIM Bank Vowed To Continue Partnership With Pakistan

Dated : 18 December 2018

Federal Minister for Planning, Development & Reform Makhdum Khusro Bakhtyar along with a high-level delegation has arrived Beijing, China on Tuesday to participate in 8th meeting of China Pakistan Economic Corrdior's Joint Coordination Committee (JCC), scheduled to be held on December 20.

The Chairman Board of Investment Haroon Sharif, representatives of provincial governments and senior officials of the line ministries and departments will also participate in the JCC.

The apex body of CPEC will review progress on ongoing projects and identify new initiatives in socio-economic development, industrial cooperation, Gwadar, Transport and Energy.

On the side lines, Minister PD&R has met President of China's EXIM Bank Mr. Zhang Qingsong. In the meeting, both side agreed to continue cooperation in future.

Makhdum Khusro Bakhtyar said that Pak-China friendship has lasted for decades and CPEC is helping to further strengthen the relations.

Minister said that a number of CPEC projects including Multan Sukkur Motorway, KKH up-gradation and cross border fiber optic was implemented with the help of Chinese Bank. He hinted to initiate new projects in future with the help of this world leading financial institution.

"Government is taking measures to overcome current account deficit" Minister highlighted and said that manufacturing base of Pakistan is being expanded, export are being enhanced coupled with policy reforms and improvement in ease of doing business.

He said that the focus of public sector development program was made in line with the reform agenda.

Highlighting importance of CPEC SEZs, Mr. Bakhtyar said that 09 zones are being established that would help to control trade deficit.

Minister further intimated that Pakistan wishes to launch projects in transport sector with special focus on ports development, rail and roads by exploring 'Built- Operate -Transfer (BoT) mode'. The incumbent government is also trying to take up economically feasible oil and gas projects with investors to reduce oil import bill, he added

Minister, however, said that those projects would be promoted which is economically viable, create jobs opportunities and help in achieving sustainable growth.

President EXIM Bank said that a number of projects under CPEC are being implemented that would help Pakistan to achieve its development goals. The Exim bank's head said that with regard to investment, Pakistan had become the top trading partner of Exim bank and vowed to continue support to Pakistan.