Islamabad - The Federal government is likely to finalise the Memorandum of Understanding (MoU) on Joint Working Group of China Pakistan Economic Corridor on Socio Economic Development on Tuesday which will be signed between China and Pakistan this week.

The projects to be executed under first phase of CPEC Socio Economic Development Cooperation have been shortlisted and a MOU in this regard will be finalised on Tuesday, official source told The Nation here Sunday.

The Federal cabinet that is scheduled to meet here Tuesday will approve the MOU to be signed between China International Development Cooperation Agency and Ministry of Planning Development and Reforms on Implementation of the Projects under Joint Working Group of China Pakistan Economic Corridor on Socio Economic Development. The Chinese experts group had recently concluded a 12 days tour to Pakistan where they have shortlisted around two-dozen projects to be funded with the Chinese grant in the provinces and regions under CPEC. Now a MOU on the projects is likely to be signed in upcoming Belt and Road Forum.

China and Pakistan will finalise the initiative of the second phase of China Pakistan Economic Corridor (CPEC) during the Prime Minister Imran Khan upcoming visit of to China. Prime Minister Imran Khan is scheduled to visit China on April 25 to attend Belt and Road Forum where both China and Pakistan will finalise the initiative to be undertaken during the second phase of CPEC.

Pakistan, China to finalise initiative of 2nd phase of corridor during PM Imran Khan’s visit to China

The Chinese delegation headed by Du Zhenli, comprising of 13 experts from socioeconomic development field, arrived here during last week of February and was here for around 12 days. China has agreed to extend a grant of one billion dollars for the socio economic development under CPEC and the projects in six identified areas will be funded through China International Development Cooperation Agency (CIDCA).

During its stay in Pakistan, the Chinese experts had held meetings with the federal, provincial, GB and AJK officials. The delegations also visited Punjab and Khyber Pakhtunkhwa to get on the ground briefing about some of the proposed projects by the provinces. The provinces and regions had submitted around 100 projects to the Chinese experts to secure grant for the socioeconomic development under CPEC. The projects submitted by the provinces and AJK include, in agriculture, fisheries, livestock, health, solarization of water supply schemes, telemedicine, smart schools etc, said the source. However all of them are small projects which are worth Rs 100 million to Rs 300 million, the source said.

The expert group discussed the implementation of newly introduced sector of socioeconomic development under China Pakistan Economic Corridor (CPEC). The experts also discussed the finalization of action plan with Pakistani experts, said the source. The finalization of MOU will help to launch pilot projects in the selective districts of the country. China has agreed to extend Pakistan grant for socio-economic development through China International Development Cooperation Agency (CIDCA).

After due consideration, the expert group had shortlisted some projects and it has decided that in first phase it will start the execution of projects with shortest implementation time. For example, the source said, there was a demand of establishing burn centers from all the provinces and regions, therefore it was decided to execute these projects in the first phase. The project is easy to execute and can be completed within few months, said the source.