Key Agreements Anticipated During Chinese PM's Visit
ISLAMABAD: The Ministry of Finance and the Ministry of Planning in Pakistan have finalized preparations for significant projects ahead of the visit of Chinese Prime Minister Li Qiang, marking his first visit in 11 years. This visit is expected to strengthen bilateral ties and facilitate critical agreements.
Key Agreements Expected
Among the agreements anticipated during Prime Minister Li's visit are the soft launch of Gwadar International Airport and a substantial loan agreement for the construction of the Karakoram Highway, amounting to $2 billion. Additional collaborations are likely in various sectors, further deepening economic cooperation.
Gwadar International Airport Soft Launch
Sources indicate that the soft launch of the New Gwadar International Airport is a key highlight of the visit. With a total expenditure of approximately 54.98 billion rupees, the airport will accommodate large aircraft, including the Airbus A380. This development is seen as a vital step in enhancing Gwadar's status as a regional hub.
Financial Collaborations
Further agreements expected to be discussed include progress on the Kohala Hydropower Project and the Azad Patan Hydropower Project. Additionally, a financial close agreement concerning the Gwadar Coal Power Plant is on the agenda. While China is keen on establishing deals for offshore oil and gas projects, progress on the ML-1 railway project remains unlikely.
A significant protocol regarding the export of donkey meat to China is also expected to be signed. Furthermore, a currency swap agreement between the State Bank of Pakistan and the Chinese Central Bank is anticipated. This will enable Pakistan to pay for goods purchased from China in yuan, while China will use rupees for purchases from Pakistan.
Conclusion
The visit of Chinese Prime Minister Li Qiang holds the potential for transformative agreements that could bolster Pakistan’s infrastructure and economic landscape. The anticipated projects and collaborations highlight the strategic partnership between Pakistan and China.
