GOVERNMENT is optimistic about getting a comprehensive package from China after securing a good deal from the Kingdom of Saudi Arabia during recent visit of Prime Minister Imran Khan. Addressing a news conference after Federal Cabinet meeting, which approved increase in power tariff, Minister for Finance Asad Umar said government was working on such a package that includes investment, trade, assistance in agricultural research and financial support.
The Prime Minister will pay a visit to China from November 02 during which he will hold wide-ranging talks with Chinese leadership to boost bilateral relations and sign agreements and memoranda of understanding for cooperation in different sectors. It is premature to say what actually would be outcome of the visit but given the Chinese goodwill for Pakistan and commitment to contribute aggressively in its economic development, it is highly likely that expectations of authorities concerned would be realised. However, for that to happen the government will have to be clear-headed about dimensions of bilateral ties especially the flagship project of China-Pakistan Economic Corridor (CPEC). China has already made substantial investment in various projects under CPEC umbrella and it is more than willing to invest more and expand the scope of cooperation. China has committed over $55 billion investment in Pakistan at a time when the country is making frantic efforts to attract investment and create and develop its infrastructure.
It is understood that not all Chinese assistance is grant and Pakistan will have to repay the money, of course, with interest. But the real question is whether or not we can undertake big projects especially those in far-flung and backward regions without Chinese help. The dilemma we face in arranging funds for Diamer-Bhasha dam provides a clear answer to this question and therefore, propaganda against CPEC must come to an end and work on projects under CPEC should be expedited as per understanding with China. Of course, there is need to accelerate work on development of Gwadar, which offers immense opportunities for accelerating socio-economic development not just in Balochistan but entire Pakistan. Similarly, there should be focus on projects and programmes with potential to increase economic growth rate, import substitution, development of agriculture, tapping tremendous potential of IT and telecom and transfer of technology.
Source:Â https://pakobserver.net/package-from-china/
