Minister: (Chinese investment to expedite pace of development: Rashid)

ISLAMABAD: Information Minister Pervaiz Rashid on Sunday said that Pakistan and China have now become economic partners with China’s $46 billion investment in Pakistan under the China-Pakistan Economic Corridor (EPEC) project.

Speaking in a Radio’s Programme, he said earlier the two countries have been closely cooperating in the defence sector and about global issues at all international forums being strategic partners.

He said the huge Chinese investment would help expedite pace of development in Pakistan. He said it would also enable China to approach international markets through the Gwadar Port.

To a question, Pervaiz Rashid said that out of 46, 36 billion dollars would be invested in power sector to overcome the energy crisis while the remaining investment would be allocated to the infrastructure related projects.