Pakistan’s economy is showing signs of stabilization, attributed to the efforts of the Special Investment Facilitation Council (SIFC) and a series of key agreements with China, marking a milestone in bilateral cooperation.
At the recent Shanghai Cooperation Organisation (SCO) Summit, hosted by Pakistan, the Chinese Premier's visit led to several impactful agreements, including a $6.8 billion investment for the ML-1 railway project, slated for completion in three phases.
The scope of cooperation also includes substantial infrastructure projects: a $400 million motorway from Sukkur to Hyderabad and a $1 billion road project on the Karakoram Highway. Additionally, Pakistan and China inaugurated Gwadar International Airport, constructed for $200 million under the China-Pakistan Economic Corridor (CPEC).
New Memorandums of Understanding (MoUs) were signed between the State Bank of Pakistan and the People's Bank of China, focusing on currency swap arrangements. Agreements also cover food security, healthcare, and education sectors through SIFC facilitation.
Successfully hosting the SCO Summit, a major intergovernmental organization, has further elevated Pakistan’s international standing, opening new avenues for foreign investment and strengthening its economic ties with China.