ISLAMABAD: Reviewing the mechanism of implementation of projects signed with China, Finance Minister Dr Hafeez Shaikh said on Friday that no inaction on the part of any line ministry would be allowed in the implementation of decisions reached between Pakistan and China. Chairing a meeting with a Chinese delegation, led by Ambassador Liu Jian, the finance minister reviewed progress on implementation of projects signed by the two countries during the visit of Chinese Premier Wen Jiabao in December last.
Both the sides expressed satisfaction over the pace of progress and hoped that if there is any laxity from any quarter, it shall be overcome with the coordination of line ministries and corresponding agencies.
In the post-flood reconstruction programme, the Chinese government has pledged to support Pakistan in the reconstruction of a number of projects which included grant for highways and agriculture, transport, energy and communications, establishment of China-Pakistan agricultural technology zones, upgradation of Karakarum Highway and realignment of Ataabad Lake, disaster preparedness and response system and environment and ecosystem.
The meeting also deliberated upon the progress in the operationalization and implementation of agriculture-related components under the Economic and Technical Cooperation and reviewed the progress in finance and banking sector.
The participants of the meeting were apprised that the ICBC Industrial and Commercial Bank of China will open its branches in Karachi and Islamabad.
The meeting discussed the opening of a branch of National Bank of Pakistan in China under the prevalent procedure in the Chinese Banking laws.
Under the bilateral trade, China is to send more trade missions to Pakistan, and Pakistani traders to be given access and free space in trade exhibition in the cities of Kashghar, Urmuqi, Kensing and Chengdu.
Dr Shaikh asked concerned officials to present a comprehensive report on the development in this regard.
The other issues discussed related to Pakistan’s market access by considering grant of unilateral tariff concession to 228 Pakistani products, launch of second phase of Pakistan-China Free Trade Agreement in the first quarter of 2011, establishment of Pakistan-China Entrepreneurs Forum, and exploring possibility of establishing trans-border economic zones.
During the last visit of Chinese Premier, new air routes between Pakistan and China were also agreed to be opened and Friday’s meeting discussed airports for the flight operation.
The youth exchange programme also came under discussion whereby 100 Chinese and Pakistani youth delegations would visit respective countries to enhance cultural cooperation between the two friendly countries.
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