ghazi52
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Rail links with China to boost Pakistan’s sinking economy:
The project would not only help Pakistan get easy access to the Chinese market, but also attract a large number of foreign investors. The prominent members of the delegates included CRCC Deputy General Manager Xue Jiabin, Development Manager Xie Fei and Hebei Dongsangxing Technology Company Limited General Manager Tian Wenchang. The Chinese delegates informed that CRCC was opening offices in Pakistan to execute and monitor CPEC railway projects.
Pak-China Joint Chamber of Commerce and Industry (PCJCCI) President Shah Faisal Afridi, while addressing the delegation, assured full support and assistance of PCJCCI in implementing the project. He informed the delegation that Pakistan government had decided to carry out connectivity projects between Pakistan and China on priority basis. He said that mega rail projects, besides being beneficial to China and Pakistan, would also be useful for neighbouring countries as well. For Pakistan, the proposed project would create thousands of jobs at Gawadar and would also minimise the grievances of the Baloch population, he added.
Faisal Afridi also told the delegates that Pakistan was very optimistic for mega railway projects, as it could be one of the main sources of transforming Pakistan into a regional hub of economic development. He said that after well-established communication links, large number of foreign investors would be attracted and Pakistan would get an easy access to the Chinese market. It would not only boost the continuously sinking economy of Pakistan but would also bring transit fee to Islamabad, Afridi added.
He informed that projects like TAPI and Iran-Pakistan-India (IPI) gas pipelines can also be materialised on the successful completion and operationalisation of Pak-China Rail Link. “Pakistan estimates that the corridor project will create some 700,000 direct jobs between 2015–2030 and add up to 2.5 percent points to the country;s growth rate,” he said, adding that on the other hand, China would get even more from the rail project, as it would provide the shortest route to round-a-year open sea.
The PCJCCI president acknowledged that China is the world’s second largest oil consumer and the largest oil importer and therefore, transportation of oil from gulf states to China is really an important issue for China, as the country’s oil consumption is expected to grow by 5.8% annually. In order to meet future oil export demand, he said, China has signed a number of long term contracts to develop Iranian oil fields and to build a pipeline, refinery, and port in Sudan.
The project would not only help Pakistan get easy access to the Chinese market, but also attract a large number of foreign investors. The prominent members of the delegates included CRCC Deputy General Manager Xue Jiabin, Development Manager Xie Fei and Hebei Dongsangxing Technology Company Limited General Manager Tian Wenchang. The Chinese delegates informed that CRCC was opening offices in Pakistan to execute and monitor CPEC railway projects.
Pak-China Joint Chamber of Commerce and Industry (PCJCCI) President Shah Faisal Afridi, while addressing the delegation, assured full support and assistance of PCJCCI in implementing the project. He informed the delegation that Pakistan government had decided to carry out connectivity projects between Pakistan and China on priority basis. He said that mega rail projects, besides being beneficial to China and Pakistan, would also be useful for neighbouring countries as well. For Pakistan, the proposed project would create thousands of jobs at Gawadar and would also minimise the grievances of the Baloch population, he added.
Faisal Afridi also told the delegates that Pakistan was very optimistic for mega railway projects, as it could be one of the main sources of transforming Pakistan into a regional hub of economic development. He said that after well-established communication links, large number of foreign investors would be attracted and Pakistan would get an easy access to the Chinese market. It would not only boost the continuously sinking economy of Pakistan but would also bring transit fee to Islamabad, Afridi added.
He informed that projects like TAPI and Iran-Pakistan-India (IPI) gas pipelines can also be materialised on the successful completion and operationalisation of Pak-China Rail Link. “Pakistan estimates that the corridor project will create some 700,000 direct jobs between 2015–2030 and add up to 2.5 percent points to the country;s growth rate,” he said, adding that on the other hand, China would get even more from the rail project, as it would provide the shortest route to round-a-year open sea.
The PCJCCI president acknowledged that China is the world’s second largest oil consumer and the largest oil importer and therefore, transportation of oil from gulf states to China is really an important issue for China, as the country’s oil consumption is expected to grow by 5.8% annually. In order to meet future oil export demand, he said, China has signed a number of long term contracts to develop Iranian oil fields and to build a pipeline, refinery, and port in Sudan.
