China to consider investing in low-cost housing program, says envoy

ISLAMABAD: Chinese ambassador in Islamabad Yao Jing called on Planning Minister Asad Umar on Friday and discussed various proposals to enhance cooperation.

Secretary Planning and other senior officials were also present in the meeting. Matters relating to CPEC, B2B collaboration between the two countries and social sector development in Pakistan came under discussion.

The Minister expressed his satisfaction at the overall delivery of CPEC projects and said that the pace of implementation would be further accelerated. He said that the establishment and operationalization of the Special Economic Zones in all of the provinces is a top priority and the progress in this regard is being closely monitored.

The SEZ would act as a catalyst in increasing the growth of local manufacturing.

Chinese Ambassador Yao Jing appreciated Government of Pakistan’s efforts to fast track the China-Pakistan Economic Corridor projects.

He expressed his desire to put special focus on Rail Transport, Hydel Power Projects, Social Sector Development Projects and B2B collaboration between the two countries.

He further stated that China would also consider to invest in the low-cost housing program.

The Chinese Ambassador said that the meetings of some of the JWGs will be held through video conferencing to ensure preparation for the upcoming JCC meeting without any delay.

The planning minister also said that the Provincial and the Federal Government are highly interested in the KCR (Karachi Circular Railway) project and discussed the latest developments regarding the project.

He emphasized the need to increase B2B collaboration in banking, telecom and digital finance, manufacturing and agriculture sectors. The ambassador assured the minister that the Chinese side is keen to promote such relationships between businesses and manufacturing industries.