New 7th economic zone to be constructed in Islamabad soon under CPEC

Islamabad: A new 7th economic zone will be constructed in Islamabad soon under the China-Pakistan Economic Corridor (CPEC).

According to the Planning Ministry the total of 4500 acres of land near Rawat area and 7500 acres near the new Islamabad Airport would be allotted for the construction of the 7th special economic zone under the CPEC.

The economic zone will have the capability to produce and store, with the facility to process crude oil. The allotted land would be given to industrialists and not sold via estate agents.

Prime Minister Shehbaz Sharif is scheduled to visit China on November 1-2 His upcoming visit to China will help advance the agenda of bilateral cooperation, the Pakistani foreign ministry said.

Foreign Office spokesperson Asim Iftikhar Ahmed maintained that the trip will mark the conclusion of several Memorandums of Understanding (MoUs) and agreements in the diverse areas.

“The visit will help advance the agenda of bilateral cooperation. The visit scheduled on November 1-2 is expected to advance wide-ranging bilateral cooperation agenda in which two sides would review the All-Weather Strategic Cooperation Partnership and exchange views on regional and global developments,” Ahmed underscored.

He stressed that the visit would also help consolidate the momentum of CPEC cooperation in wake of the 11th meeting of the CPEC Joint Cooperation Committee (JCC) held on Thursday, in which both sides expressed satisfaction over the ongoing projects under CPEC while several new projects were also proposed.

Ahmed infirmed that the Prime Minister, who will also be accompanied by Foreign Minister Bilawal Bhutto Zardari will meet with President Xi Jinping and hold delegation-level talks with Premier Li Keqiang.

This month, Prime Minister Shehbaz Sharif, in a meeting with China Road and Bridge Corporation (CRBC) in Islamabad, assured to complete the CPEC projects on a priority basis.

Progress on projects such as the Karachi Coastal Development, Rashakai Special Economic Zone, Karachi-Hyderabad Motorway (M-9) Babusar Tunnel, and railway corridor from Karachi Port Trust to Pipri was discussed.

The PM was also given a detailed briefing on the ongoing and completed CPEC projects. It was informed that work is in progress on its second phase from Thakot to Raikot, while the Havelian-Thakot section of the Karakorum highway has been completed.