PM Shehbaz Sharif’s China visit to focus on investment, enhanced cooperation

Gwadar Pro

Islamabad: Prime Minister Shehbaz Sharif’s visit to China will be focussed on enhancing investment in Pakistan and advancing cooperation between the two steadfast allies, said a senior minister.

Planning and Development Minister Ahsan Iqbal said the two countries were ready for the next phase of the China-Pakistan Economic Corridor (CPEC) project.

Sharif’s five-day visit, commencing on Tuesday at the invitation of Chinese President Xi Jinping, will see the leaders collaboratively planning to strengthen their bilateral relationship, Ahsan Iqbal said in a statement on Monday.

This visit marks PM Sharif’s first to China since assuming office for his second term, following the Pakistan Muslim League-Nawaz (PML-N) coalition’s rise to power in March.

The visit will prioritize both governmental and business investments in sectors such as energy, agriculture, and Special Economic Zones. Chinese Ambassador to Pakistan Jiang Zaidong earlier maintained that under the guidance of the two nations’ leadership and with strong public support, Prime Minister Sharif’s visit was expected to be highly successful and a significant milestone in China-Pakistan relations.

Ambassador Jiang Zaidong highlighted that Prime Minister Sharif will engage in discussions with President Xi Jinping, Premier Li Qiang, and the Chairman of the Standing Committee of the National People’s Congress Zhao Leji.

The dialogues aim to deepen China-Pakistan relations and address mutual interests, with the leaders set to jointly draft a blueprint for future bilateral growth.

“China is prepared to collaborate with Pakistan during this visit to advance our strategic cooperative partnership and take new steps towards a closer China-Pakistan community with a shared future,” Ambassador Jiang Zaidong said in an opinion piece.

Regarding CPEC, he noted that the Belt and Road Initiative (BRI) project had already attracted US $25.4 billion in direct investment, created 236,000 jobs, built 510 kilometers of highways, generated over 8,000 megawatts of electricity, and developed an 886-kilometer core transmission network, significantly boosting Pakistan’s economic and social development.

CPEC is the flagship project of China’s ambitious multi-billion-dollar BRI, which aims to extend China’s global influence through infrastructure projects funded by Chinese investments.

Planning and Development Minister Iqbal, who oversees CPEC projects in Pakistan, mentioned that the US $8 billion ML-1 railway project, the largest in Pakistan, will be a focal point during Sharif’s visit, with budget allocations already made.

Additionally, he said, funds have been earmarked for the realignment of the Karakoram Highway, which will also be a topic of discussion during the visit.

The 1,300-kilometer Karakoram Highway, stretching from Hasan Abdal near Islamabad to Kashgar in China’s Xinjiang region, was inaugurated in 1978 after nearly 20 years of construction.

Prime Minister Sharif’s visit to Beijing, traditionally the first international stop for Pakistani leaders upon taking office, comes at a time when Pakistan is grappling with am economic crisis and low foreign exchange reserves. China continues to support Pakistan’s financial stability with periodic loans to maintain necessary foreign exchange reserves.