China has taken the decision of investing $10 billion in the oil and gas sector of Pakistan and $4 billion in the local steel sector via projects under the China Pakistan Economic Corridor, as informed by the Minister for Planning—Khusro Bakhtiar on Monday.
He while addressing the third annual conference on CPEC Consortium of Universities in the federal capital informed this.
Bakhtiar said that China had extended bilateral ties in the socio-economic development, infrastructure, agriculture and energy sectors. The government of China has also offered 20,000 scholarships for Pakistani students in Chinese universities.
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As per the reports of local media, a $9 billion project has also been approved by the Chinese government for a railway line from Karachi to Peshawar.
China’s ambassador to Pakistan—Yao Jing informed the participants that CPEC was providing a platform for connecting the two nations and peoples.
On Monday, as per reports, Supreme Court has barred the federal government from selling the land of Pakistan Steel Mills. The apex court said that PSM could not be sold as it belongs to the people of Pakistan.
The deputy advocate general representing the government told the court that there were not enough funds for paying the salaries of the employees.
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