Pakistan Prepares Multiple Deals for Chinese PM’s Visit

The federal government has prepared 41 investment proposals for Chinese Prime Minister Li Qiang’s upcoming visit to Pakistan. Of the total, 17 deals are at the advanced stage and only pending Chinese approval, reported Express Tribune. Among the proposed deals is a revised plan for an upgraded version of CPEC. Pakistan is also seeking financial closure on key energy projects, including the Kohala and Azad Pattan hydropower and the Gwadar coal power projects. Other proposals include agreements on offshore oil and gas exploration and a long-delayed currency swap agreement. Pakistan is looking to pen a $2 billion agreement for the Thakot-Raikot section of the Karakoram Highway. Meanwhile, agreements on cultural and educational exchanges, smart classrooms, and digitization are part of the agenda. Another item on the table is the export of donkey meat to China, a pact likely to be signed as both sides have already verbally agreed to do it. MoUs covering artificial intelligence projects, advanced metering infrastructure, and non-ferrous metal mining will be discussed as well. The two countries may sign a currency swap agreement as well, as the draft has already been agreed by the People’s Bank of China and the State Bank of Pakistan (SBP). Prime Minister Li Qiang’s visit marks the first by a Chinese premier in over a decade, and it comes just ahead of the Shanghai Cooperation Organization (SCO) Summit.