ISLAMABAD: Pakistan and China on Friday signed a letter of exchange for the feasibility study of Gwadar Port City Master Plan Project costing Rs410 million under a government-to-government arrangement.

Economic Affairs Division Secretary Tariq Bajwa and Ambassador of China to Pakistan signed the letter of exchange on behalf of their respective governments.

China agreed to finance the project under grant assistance and subsequently a meeting was held in Beijing on Aug 25 between Chinese ministry of commerce and the government of Pakistan to discuss Gwadar Smart Port City Master Plan Project.

Accordingly, the implementation mode, objectives and scope, time-frame arrangement of the project were discussed and the minutes of the meeting duly concurred by the ministry of planning, development and reforms were signed by ministry of commerce and EAD on Nov 24, 2015.

EAD Secretary expressed his government’s gratitude for the financial and technical support being provided by Chinese over the years, specially the China-Pakistan Economic Corridor (CPEC) projects.

Published in Dawn, January 23rd, 2016