BEIJING: Federal Minister for Planning, Development and Reform Ahsan Iqbal and Chief Minister Punjab Shahbaz Sharif, who are on a three-day visit to China, held several meetings on Tuesday to follow up progress on various energy and infrastructure projects of the China-Pakistan Economic Corridor (CPEC).

A statement released by the Embassy of Pakistan in Beijing said that the ministers held meetings with the Chinese National Development and Reform Commission (NDRC), China Development Bank, Industrial and Commercial Bank of China (ICBC), Exim Bank, National Energy Administration (NEA) and heads of Chinese corporate sector.

Ahsan said the meetings helped in developing a roadmap for faster execution of CPEC projects, particularly with reference to their mode of financing.

He said almost all of the ground work including land acquisitions, policy interventions where necessary and other necessary arrangements had been finalised enabling the investment environment to be more conducive and set for execution of the early harvest projects.

Ever since the signing of the landmark memorandum of understanding (MoU) in July last year, whereby the two governments had mutually agreed to embark on the project of an economic corridor between the two countries, tangible progress had been achieved, he said.

A meeting of the joint coordination committee overseeing the China-Pakistan Economic Corridor will be held next month in the federal capital

The minister said that in just one year visible progress on the corridor was a “testament to the commitment of the visionary leadership of both the countries to the corridor’s realisation”.

He said that projects in energy sector would help Pakistan overcome its energy crisis and boost economic growth rate whereas infrastructure and transportation projects would improve connectivity and give boost to trade between the two countries.

The minister said that the Gwadar Port was the gateway of the corridor project and would be developed into a modern port city.

He informed that the meeting of the joint coordination committee (JCC) overseeing the China-Pakistan Economic Corridor would be held and hosted in Pakistan by the end of the next month (August) in Islamabad. The delegation also discussed agenda for the JCC meeting.

Shahbaz Sharif also held several meetings with heads from the Chinese corporate sector and emphasised timely execution, quality control, transfer of technology, localising production, joint collaboration, personnel training, and community social welfare in projects.

Published in Dawn, July 9th , 2014