Pak-China mega railway project: country will be regional hub of economic development: PCJCCI chief

Pak-China mega railway project will be transforming Pakistan into a regional hub of economic development by having an easy access to Chinese market and attracting a large number of foreign investors. Pakistan-China Joint Chamber of Commerce and Industry (PCJCCI), President Shah Faisal Afridi stated this while speaking at a meeting of a delegation of Chinese company-China Railway 17th Bureau Group Co, Ltd-CRCC which is engaged in the CPEC railway projects.
The prominent members of the delegates were the CRCC's Deputy General Manger Xue Jiabin, Development Manager Xie Fei and Hebei Dongsangxing technology Co, Ltd. General Manager Tian Wenchang. The delegates informed the PCJCCI President that the CRCC is opening offices in Pakistan from where they would be executing and monitoring the CPEC railway projects.
Speaking on the occasion, Shah Faisal Afridi assured of the PCJCCI support and assistance in execution of the project and said that Pakistan government had decided to carry out the connectivity projects between Pakistan and China on priority basis. The mega rail projects, besides being beneficial to China and Pakistan, would also be useful for the neighbouring countries. For Pakistan, the proposed project will create thousands of jobs at Gwadar and will also minimise the grievances of the Baloch population, he added.
Afridi told the delegates that Pakistan is very optimistic for railway mega projects due to the reason that it can be one of the main sources of transforming Pakistan into a regional hub of economic development. After well-established communication links large number of foreign investors will be attracted and Pakistan would get an easy access to Chinese market, he said. It would not only boost up the continuously sinking economy of Pakistan by increasing the Pak-China bilateral annual trade but would also bring transit fee to Islamabad, he maintained.
Afridi said that the projects like TAPI and Iran-Pakistan-India (IPI) gas pipelines can also be materialised on the successful completion and operationalization of Pak-China Rail Link. Pakistan estimates the corridor project will create some 700,000 direct jobs between 2015-2030 and add up to 2.5 percentage points to the country's growth rate, he said, adding that on the other hand, China will get even more from the rail project due to the reason that it will provide the shortest route to round-a-year open sea.
The PCJCCI President said that China is the world's second largest oil consumer and the largest oil importer therefore transportation of oil from gulf states to China is really an important issue for China, because China's Oil consumption is expected to grow by 5.8 percent annually and in order to meet future demand, China has signed a number of long term contracts to develop Iranian oil fields and to build a pipeline, refinery, and port in Sudan for oil export.
The CRCC Deputy General Manager Xue expressed interest in collaboration with Pakistan Railway and private companies for further co-ordination in the implementation and quick completion of the railway mega projects. The Chamber also arranged a meeting of CRCC with the officials of Pakistan Railways and a private company Seronic Engineering-construction, procurement and management group for discussing opportunities of collaboration.