PM Shahbaz Sharif’s China visit likely to inject Pakistan’s economy

Sunday, June 02,2024.

Prime Minister Shahbaz Sharif’s China visit is being anticipated to boost CPEC,

trade and security relating issues

Pakistan Prime Minister Shehbaz Sharif’s visit to China from June 4 to 8 is expected to strengthen ties between the two nations and yield several benefits for Pakistan’s dwindling economy.

The multi-billion-dollar CPEC project, which has faced delays and challenges, in the scenario of Prime Minister Shahbaz’s China visit is also being seen to revive and boost the CPEC projects.

Second Phase of CPEC

Following the completion of road infrastructure projects as well as energy and coal power projects under phase-1 of CPEC, the second and new phase of CPEC is expected to focus on agriculture, business-to-business deals, and infrastructure development.

Agriculture Cooperation

Under Second Phase of CPEC, Pakistan seeks to utilize China’s modern technology in the agricultural sector and Pakistan aims to utilize Chinese experts techniques to boost Pakistan agri-economy with Chinese assistance. The Government of Pakistan aims to enhance Pak-China cooperation in agriculture and livestock farming. In this scenario, there are reports that both China and Pakistan are going to sign pacts and agreements in the areas of agriculture and trade in livestock.

Energy projects:

During Prime Minister Shahbaz Sharif’s China visit, discussions will take place on joint ventures in renewable energy projects as Pakistan has installed differnet projects of renewable energy including solar projects, wind power projects and discussions will take place during this visit on the practicality of these projects in view of the benefits of Pakistan.

Investment opportunities

Pakistan aims to attract Chinese investment in key sectors like oil and gas, energy, and emerging technologies. China is the biggest market in the world and Pakistan being neighboring country, aims to take advantage of this huge market.

Pakistan wants Chinese investment in ailing industries of Pakistan to revive all these industries to contribute their share for the economic stability of Pakistan.

Infrastructure development

PM Shahbaz Sharif’s visit may lead to the signing of agreements for new infrastructure projects, including road networks and industrial zones with ultimate objectives to enhance economic ties between both the countries.

Security assurances:  

Under CPEC projects, hundreds of Chinese engineers and workers are fulfilling their responsibilities in Pakistan and following some terrorism incidents, in which dozens of Chinese workers were martyred in Pakistan, During the visit of Prime Minister Shahbaz Sharif, PM will got the opportunity to assure China of the security and protection of Chinese workers and citizens in Pakistan.