The government has decided to set up an authority to ensure the speedy execution of all projects of the China Pakistan Economic Corridor, said Planning and Development Minister Khusro Bakhtiar while addressing a press conference on Saturday.
He, however, said that the authority has nothing to do with PM Imran Khan’s upcoming visit to Washington. The authority will work under the Ministry of Planning and Development.
Pakistan and China have also decided to establish the Pakistan-China Business Council, he remarked. The council will include people from the private sector to implement industrial and agricultural development projects under the second phase of CPEC.
Chinese investors want to invest $5 billion in special economic zones, he said.
There has been no progress in Gwadar in the last four years, he claimed. Bakhtiar said that the master plan for Gwadar is being finalised too. “It will be turned into a smart port city and prove to be more prosperous than other cities.” Gwadar airport has already been inaugurated. It was built at a cost of $230 million, he added.
He claimed that China has made a commitment to spend $1 billion for the development of Pakistan.
Speaking about Karachi, he remarked that four to five projects urban transport are being planned in Karachi. The government has collaborated with the World Bank to conduct a master study in Karachi. He said that they are holding talks with international organisations for the construction of Blue and Red Line projects.
“We want to work harder to meet the CPEC goals,” he said. “We are currently working on all legal issues.”
The long-term CPEC plan will be implemented by 2030, the federal minister said.