Islamabad: The Federal Minister for Planning, Development and Reforms Makhdum Khusro Bakhtyar announced on Sunday that Prime Minster (PM) Imran Khan will be discussing a number of new technical projects with the Prime Minister and President of China, a news source reported. Under the China-Pakistan Economic Corridor (CPEC), they will be offered collaborations for projects in the steel, energy and agriculture sectors, among others.
The government of Pakistan is going to suggest a collaboration in the steel sector, in an attempt to drastically reduce their imports of steel products and scrap. The government is hopeful that this collaboration will increase the capacity of Pakistan Steel Mills to three million tonnes. The current requirement for the country is nine million tonnes, while total production in the country stands at a mere four and a half million tonnes.
One of the major projects to be discussed from the energy sector is the 7,000 MW Bunji hydropower project. Additionally, the PM will also discuss increasing the capacity of Pakistan’s oil refineries to reduce the current import bill by at least USD 1.5 billion. Karachi-based Pakistan Refinery Limited (PRL) and PSM are going to be offered for a government-to-government collaboration. An LNG overload terminal will also be proposed during the meeting.
New projects worth USD 200 million for the agriculture industry, including business-to-business agreements on shrimp, fisheries and livestock, will also be discussed with the Chinese government.
To take advantage of China’s technological advancement and superiority, new projects in the science and technology sector are also on the table for discussion.