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khunjerab Pass re-opened for trade after three years

3Apr

By Aqsa AzamNo Comments

Pakistan

khunjerab Pass re-opened for trade after three years

Closed for three years due to the Covid-19 pandemic breakout. Finally, Pak-China trade opened for bilateral trade through Khunjerab Pass. Prime minister Shahbaz Sharif says that this step helps both countries to boost harmony and increase revenue. The Khunjerab Pass is a major trade route between Pakistan and China. Now opened after a closure of almost three years in the wake of the Covid-19 pandemic. The pass that connects Gilgit-Baltistan with China’s Xinjiang Uyghur autonomous region was closed in the year 2020. After the spread of the Covid-19 outbreak. According to official sources, the Chinese authorities have shared a letter with Pakistani officials regarding the reopening of the pass for trade. Also read: Iran and Saudi Arabia opened embassies for trade The port authorit...

306km Sukkur Hyderabad M6 Motorway groundbreaking held

Prime Minister Shahbaz Sharif on Tuesday performed a groundbreaking of the 306-kilometer Sukkur Hyderabad section of the M6 motorway. Saying that the project would be completed in 30 months. The CM said M6 Sukkur-Hyderabad Motorway was a very important road. It was ignored because it was not included in the China-Pakistan Economic Corridor (CPEC) projects. “We want to see the center expedite work on this project,” the CM underlined. He observed that the federal Public Sector Development Program (PSDP) also included the construction of a bridge on the River Indus and 190 kilometers of road. The project, whose estimated cost is Rs307 billion, was announced by the then prime minister Imran Khan in April 2021 as part of a “historic development package” for Sindh. Incumbent Prime Minist...

The CPEC authority abolished by PM Shahbaz

As a result of Chinese power producers' non-clearance of their Rs300 billion dues, the new government decided to abolish the China-Pakistan Economic Corridor ( CPEC ) Authority. A meeting revealed that Chinese investors had failed to pay dues on over 37% of the CPEC power projects, or 1,980 megawatts. The meeting was informed that the total receivables of the 10 Chinese IPPs have now reached Rs300 billion, of which Rs270 billion is the overdue portion, resulting in a total receivables value of Rs300 billion. One of the three imported coal-fired power plants, Hubco, Sahiwal and Port Qasim, have closed one of their two units due to the non-availability of fuel for their operations, a former senior official who was responsible for the CPEC. In a similar manner, the establishment ...