Pakistan Likely to Make Big Offers to China in CPEC Second Phase – Research Snipers

Pakistan Likely to Make Big Offers to China in CPEC Second Phase

CPEC

Prime Minister Imran Khan has left for his 3-day visit to China. He left on Monday. During the visit, both nations are likely to discuss the next measures that need to be taken regarding CPEC, as per media reports.

The China Pakistan Economic Corridor—CPEC is a flagship infrastructure-related project that was conceived by the President of China—Xi Jinping in Pakistan as part of the expanded multi-billion-dollar Belt and Road Initiative—BRI that suggests linking the continents of Europe, Asia, and Africa.

Makhdoom Khusro Bakhtiar—the Minister for Planning and Development said that all the current projects under the portfolio of CPEC have been arranged and there is no delay anywhere. He rejected the reports regarding the delays in the CPEC projects.

Pakistan has the plans of involving China to build an overland liquefied natural gas—LNG terminal, a 7,000MW hydropower project in the region of Gilgit-Baltistan, and oil refineries, as per the minister.

Also Read: No Delay in CPEC Projects, Says, Minister

He also said that Pakistan is interested in offering a joint venture to China in the government-owned, but loss-making, Pakistan Steel Mills.

The planning and development minister also talked about the modernization of the railway project between the cities of Pakistan including Karachi and Lahore and the participation in the social and agriculture sector related projects which fall outside the domain of CPEC are also under consideration.

He added that in the energy sector, Islamabad would officially be requesting Beijing for help in reducing its present annual oil import bill of $14 billion by $1.5 billion.

As per the reports of Sputnik, while heading a meeting related to CPEC last week, PM Khan emphasized on removing all the barriers for assuring the on-time completion of the projects.

More Read: Pakistan-China Bond Higher than the Himalayas; Sheikh Rasheed

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