Pakistan-China Mega Railway Project will be transforming Pakistan into a regional hub of economic development: Shah Faisal Afridi

Lahore, June 22, 2016 (PPI-OT): Pak-China Mega Railway Project will be transforming Pakistan into a regional hub of economic development by having an easy access to Chinese Market and attracting a large number of foreign investors. It was stated by Shah Faisal Afridi, President Pak-China Joint Chamber of Commerce and Industry during a meeting with a delegation from Chinese company, China Railway 17th Bureau Group Co., Ltd- CRCC involved in the CPEC railway projects.

The prominent members of the delegates were Mr. Xue Jiabin, Deputy General Manager at CRCC, Mr. Xie Fei, Development Manager at CRCC, Tian Wenchang, General Manager at Hebei Dongsangxing technology Co,.LTD. The Delegates informed that CRCC is opening offices in Pakistan from where they would be executing and monitoring the CPEC railway projects.

Shah Faisal Afridi while addressing the delegation assured the fullest support and assistance of PCJCCI in implementing the said project. He informed that Pakistan Government had decided to carry out the connectivity projects between Pakistan and China on priority basis. He explicated that Mega Rail projects, besides being beneficial to China and Pakistan, would also be useful for neighboring countries. For Pakistan, the proposed project will create thousands of jobs at Gawadar and will also minimize the grievances of the Baloch population, he added.

Faisal Afridi told the delegates that Pakistan is very optimistic for railway mega projects due to the reason that it can be one of the main sources of transforming Pakistan into a regional hub of economic development. He said that after well-established communication links large number of foreign investors will be attracted and Pakistan will get an easy access to Chinese market. It will not only boost up the continuously sinking economy of Pakistan by increasing the Pak-China bilateral annual trade but also will bring transit fee to Islamabad, said Afridi.

Afridi informed that the projects like TAPI and Iran-Pakistan-India (IPI) gas pipelines can also be materialized on the successful completion and operationalization of Pak-China Rail Link. Pakistan estimates the corridor project will create some 700,000 direct jobs between 2015–2030 and add up to 2.5 percentage points to the country’s growth rate, he said adding that on the other hand, China will get even more from the rail project due to the reason that it will provide the shortest route to round-a-year open sea.

President PCJCCI acknowledged that China is the world’s second largest oil consumer and the largest oil importer therefore transportation of oil from gulf states to China is really an important issue for China, because China’s Oil consumption is expected to grow by 5.8% annually and In order to meet future demand, China has signed a number of long term contracts to develop Iranian oil fields and to build a pipeline, refinery, and port in Sudan for oil export.

Mr. Xue, Deputy General Manager at CRCC expressed interest for collaboration with Pakistan Railway authorities and Private companies for further coordination in the implementation and quick completion of the railway mega projects.

For collaboration with Pakistan in CPEC Railway projects, PCJCCI arranged meeting of CRCC with Pakistani company, Seronic Engineering, construction, procurement and management group. Both the parties expressed interest to collaborate for the execution of CPEC Rail links in the minimum possible time.

For more information, contact:
Wardah Ali Gohar
Media Manager
Pakistan China Joint Chamber of Commerce and Industry (PCJCCI)
Mega Tower, 309 – 6th Floor,
Main Boulevard, Gulberg II,
Lahore, Punjab – Pakistan
Tel: +92-42-35777460-02, +92-42-37032203, +92-42-35874353
Fax: +92-42-35777524
Cell: +92-324-4925611
Email: info@pcjcci.org
Website: www.pcjcci.org