ISLAMABAD, May 27 (APP):Minister for Planning, Development and Reform Makhdum Khusro Bakhtyar has underlined that establishing transport and energy corridors would not only enhance regional connectivity but also boost trade and investment.
He stated that Uzbek companies can develop production lines in special economic zones under China Pakistan Economic Corridor (CPEC) framework for mutual benefit of both countries.
The Minister said this during a delegation level meeting with Deputy Prime Minister of Uzbekistan, Elyor Majidovich Ganiyev, here on Monday.
Ambassador of Uzbekistan Furqat Sidikov, Secretary Planning Zafar Hasan, members Planning Commission and senior official of the ministry were also present in the meeting.
The minister highlighted that by 2050 electricity demand in Pakistan would reach 50,000 MW adding that Pakistan was committed to CASA-1000 energy project being financed by World Bank.
Makhdum Khusro apprised that Pakistan was planning to upgrade its railway system from Peshawar to Karachi to further boost economic activities.
The visiting dignitary informed that Uzbekistan had constructed a railway line from Tashkent to Mazar-e-Sharif which can be extended to Peshawar thereby enhancing regional connectivity and trade.
The Minister stressed the need to strengthen regional connectivity through various road and railway infrastructure projects to the benefit of all member countries.
The Minister noted that bilateral trade between the two countries had increased significantly in the last two years which could be enhanced to $1 billion by exploiting potential in various areas.
Makhdum Khusro appreciated that visiting business delegation would have an opportunity to meet Pakistani business community to explore more possibilities for future cooperation that will set in motion the launching of joint ventures in different fields.
The minister also called for regular exchange of business delegation between the two countries to further cement bilateral economic partnership.