Islamabad: Pakistan’s economy is showing signs of stabilization, bolstered by strategic agreements with China and the facilitative efforts of the Special Investment Facilitation Council (SIFC). This progress is marked by significant foreign investments and cooperative projects under the China-Pakistan Economic Corridor (CPEC), which are aimed at revitalizing the nation’s economic landscape.

According to Ministry of Information and Broadcasting, the recent Shanghai Cooperation Organization Summit hosted in Pakistan was a pivotal event, attracting international leaders, including the Chinese Premier. This visit saw the exchange of key Memorandums of Agreement, spotlighting a $6.8 billion investment for the ML-1 Railway project set to unfold in three phases. Additional projects include a $400 billion motorway from Sukkur to Hyderabad and a $1 billion enhancement of the Karakoram Highway.

The SIFC has also been instrumental in fostering agreements across various sectors such as food security, health, and education, further underpinning the bilateral cooperation between Pakistan and China. Notably, Memorandums of Understanding related to currency exchange were signed, facilitating transactions between the State Bank of Pakistan and the People’s Bank of China.

Moreover, the inauguration of the Gwadar International Airport, a $200 million project under CPEC by the Prime Ministers of Pakistan and China, marks a significant milestone in this bilateral relationship, enhancing Pakistan’s infrastructure and connectivity.