Lahore: China will provide a grant of USD 1 billion to Pakistan during the next three years – a news source reported.
Federal Minister for Planning, Development and Reform Khusro Bakhtiar shared this update. He said that at least 100 Chinese investors will visit Pakistan in the coming period.
Currently, Pakistan faces a trade deficit which amounts to USD 9 billion. The economic zones being set up under CPEC will help to reduce this shortfall. The minister said that these zones will cause an increase in exports. He added that the trade deficit recently witnessed a decline of 19%.
The two countries have also decided to collaborate in the agricultural sphere. Teams from China will start working to develop Pakistan’s agriculture sector next month. China has also offered to assist Pakistan with regard to the processing of fruits and vegetables.
The two sides previously signed an MoU agreement on industrial cooperation in December. Bakhtiar said that the government is committed to widening the scope of CPEC.
