ISLAMABAD: The prime minister constituted a high-powered committee on Wednesday to monitor progress of various projects to be completed with Chinese assistance in infrastructure development and energy sectors.

The committee, which includes Finance Minister Senator Ishaq Dar and Planning Minister Ahsan Iqbal, will ensure completion of the projects on fast track and report to the prime minister on a regular basis on the status of projects.

Speaking on the occasion, Prime Minister Nawaz Sharif said that the government had taken bold decisions to put economy of the country on right track.

“Avenues for development have been made available and we need dedicated and innovative people to avail these opportunities and put our country on fast track development,” he said.

The prime minister announced the formation of the committee after Mr Ahsan Iqbal briefed him on his recent visit to China during which several projects were agreed upon for Chinese investment and assistance in infrastructure development and energy sectors.

The planning minister informed the prime minister that Pakistan and China have prioritised areas of investment which is based on significance to bilateral connectivity, socio-economic urgency and impact and quicker completion time.

The prime minister said that investment by Chinese in Pakistan is a good omen for foreign investors who would now have more confidence in the country.

Sixteen projects in solar, coal and hydel power have been identified in which Chinese investors have shown interest. These are short to medium term and power generation will be available in five years.

In infrastructure, Chinese have agreed to invest in up-gradation of Raikot-Islamabad section of Karakoram Highway, construction of Karachi-Lahore motorway and up-gradation of Gwadar Port.

In Gwadar, an integrated development plan of Gwadar city has been chalked out which includes infrastructure facilities and construction of Gwadar airport.

The planning minister further informed the prime minister that both China and Pakistan have made respective planning working groups for jointly working on planning, identification and prioritisation of projects in different sectors.