Federal Minister for Planning, Development and Reform Makhdum Khusro Bakhtyar, on Monday, underlined that establishing transport and energy corridors would not only boost regional connectivity but also increase trade and investment. Uzbek companies could develop production lines in special economic zones under the China-Pakistan Economic Corridor (CPEC) framework to mutually benefit both countries, he added.
Bakhtyar was speaking at a delegation-level meeting with Uzbekistan Deputy Prime Minister Elyor Majidovich Ganiyev, here in Islamabad. Others present on the occasion included Uzbek Ambassador Furqat Sidikov; Planning Secretary Zafar Hasan; members of Planning Commission as well as senior officials of the ministry.
The minister highlighted that the demand for electricity in Pakistan would reach 50,000 MW by 2050 while adding that the country was committed to CASA-1000 energy project, which was being financed by World Bank.
Planning minister also announced plans to upgrade the railway system from Peshawar to Karachi to further boost Pakistan’s economic activities.
Demand for electricity will soar to 50,000MW by 2050, says minister
The visiting dignitary, in turn, informed that Uzbekistan had constructed a railway line from Tashkent to Mazar-e-Sharif, which could be extended to Peshawar, thereby, enhancing regional connectivity and trade.
Bakhtyar stressed upon the need to strengthen regional connectivity through various road and railway infrastructure projects so that all member countries could greatly benefit.
He noted that Pak-Uzbekistan bilateral trade had increased significantly in the last two years, which could be enhanced to as high as $1 billion by exploiting the country’s potential in various areas.
The minister appreciated the visiting business delegation for having an opportunity to meet the Pakistani business community and in turn, explore additional possibilities for future cooperation and various joint ventures.
He called for a regular exchange of business delegations between Pakistan and Uzbekistan to further cement their economic partnership.
