Mr. Abdul Hafees Sheikh, the Minister of Finance for Pakistan, has advised the Ministry of Commerce and Economic Affairs division to prepare the list of MoUs signed with different countries, especially with China.
While conducting a meeting of Pakistan-China Portfolio Review, the minister also advised that the list should also depicts the financial implications of these MoUs, their present status/stage and the magnitude of the projects materialized.
He has also given instructions for chalking out a five year plan. He added further that stress should be given on cooperation between private sectors of both Pakistan and China to enhance economic activities and relations.
Currently, China is providing financing to Pakistan in terms of grants, concessional loans, preferential buyer’s credit, exports and buyer’s credit amounting to $1.748 billion and RMB (Chinese currency unit) 270 million.
According to the finance ministry officials, the above steps will help in monitoring the progress of the projects started as a result of the above mentioned agreements between Pakistan and China. These will also help in identifying and resolving the problems and bottle-necks during the execution phase of these projects.