BEIJING, China – Pakistan is all set to sign fourteen Memorandums of Understanding (MoUs) with China on the sidelines of the ongoing Second Belt and Road Forum including Free Trade Agreement-II and Pakistan Railway’s Mainline-I projects.
In an exclusive talk with DiploMag here, Advisor to Prime Minister for Commerce, Textile, Industry, Production and Investment Abdul Razzak Dawood told that under the cooperation regarding Belt and Road Initiative (BRI), Pakistan and China would sign fourteen MoUs in different sectors including information technology (IT), Textile Industry, Chemical industry and Power Plants.
“Interest level has increased after the contract of FTAII. Pakistan, under the second phase of FTA with China, would avail duty-free market share equivalent to the share already enjoyed by the countries of Association of East Asian Nations (ASEAN) from China,” he added.
ML-I would be game Changer for Pakistan’s economy
Talking to DiploMag, Minister for Railways Shaikh Rasheed Ahmed said that Pakistan would sign an agreement with China for construction of a new railway track from Peshawar to Karachi.
“This would be 1800-kilometers-long double track with fencing and bridges. ML-I MoU would be signed with China on April 28, 2019 which would prove to be a game-changing initiative for Pakistan’s economy,” the minister told DiploMag.
He said Main Line-1 (ML-I) from Peshawar to Karachi via Lahore would be upgraded under China-Pak Economic Corridor (CPEC) which includes up-gradation of the entire railway line and would be completed in next five years.
“Thirteen years ago, I started this project and now I will complete it,” he mentioned.
