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Zero-interest Rate Loan on CPEC’s Gwadar Projects – Latest Update

Zero-interest Rate Loan on CPEC’s Gwadar Projects – Latest Update

Planning ministry has decided to solicit China for finance assistance to enhance work on CPEC’s Gwadar Projects. Government is avid to conclude CPEC’s Gwadar Projects and prudently tackling development affairs approaching all pertinent offices. Provision of zero-interest rate loan will support the speedy completion of CPEC’s Gwadar projects.

China to offer zero-interest rate loan on CPEC’s Gwadar Projects

China would provide loan on zero interest rate for CPEC’s Gwadar projects such as construction of hospital, vocational training center and additional financing for Eastbay Expressways as China. Secretary Planning Zafar Hasan shared details of upcoming JCC meeting under CPEC mechanism.

While an exclusive talk with The News, he told that Chinese delegation led by Chairman NDRC along with delegation would reach Pakistan on November 3 and then will visit Gwadar to inaugurate 300 megawatt coal power plant and to access development of Gwadar International Airport.

He said government will approach Chinese officials to grant phase wise financing for 10-15 years with soft conditions for the course of 30 years. In the Forthcoming Joint Coordination Committee (JCC) Meeting on November 6, 2019, government would deliberate on multiple CPEC projects and will request China for funding $8.5 billion worth Main Line-1 Railway Up-Gradation Project.

China to Sign Agreement of Agriculture Cooperation with Pakistan

An agreement of Agriculture Cooperation is also set to be signed between China and Pakistan, told Secretary Planning.  Agreement for promoting cooperation in areas of agriculture will promote this sector as National Agriculture Research Council (NARC) Pakistan and Chinese side would establish institutional cooperation.

Recemtly on Wednesday October 30, President of Pakistan Dr. Arif Alvi expressed his views while addressing to the Pak-China Agricultural Cooperation Forum in Islamabad. He acknowledged that Pakistan can do wonders following Chinese footprints in livestock and agriculture sectors.

He emphasized that Pakistan must follow Chinese way of efficient water use in agricultural sector. With full participation from farmer community, Pakistan is planning to conduct joint researches with China in area of better seeds production.

For more Gwadar and CPEC related news, keep visiting Gwadar Jaidad.

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