According to a report, Pakistan and China on Thursday agreed to execute the Main Line-1 (ML-1) railway project at an estimated cost of $10 billion.
The Joint Coordination Committee (JCC) also decided to conduct business-to-business deals under the China Pakistan Economic Corridor (CPEC). Pakistan will also request restructuring of its $27 billion debt and rollover of deposits.
During the meeting, Pakistan assured China that several measures will be taken for the security of the Chinese working under the CPEC projects. Both sides have agreed to increase cooperation in information technology and it was decided that Chinese companies will set up research centers in Pakistan to explore new avenues in this field.
Pakistan and China practically held the meeting of the 11th JCC but both sides could not sign the minutes of the meeting. It was expected that the minutes of the meeting would be signed during the upcoming visit of Prime Minister Shehbaz Sharif, who will visit China with a high-powered delegation from November 1, 2022.
