$9b to be spent on improving trade corridor

ISLAMABAD—A sum of $ 9 billion would be spent within a period of next four years to improve country’s connectivity with rest of the world especially to Central Asian States and China, Member Infrastructure Planning Commission of Pakistan, Dr Asad Shahid said Thursday. He said the target of improving National Trade Corridor (NTC) is to improve major highways, railways, ports, etc. Focus is to increase country’s trade by around $ 300 billion.
Out of $ 9 billion, $5 billion would be spent to improve country’s highways. And $1.5 billion has been allocated to modernise Pakistan Railways and expanding its tracks upto Afghanistan. While rest would be spent on improving ports, airports and providing other facilities to improve bilateral trade. To meet trade targets, trade zones would be established alongwith motorways. Cost of doing business would be reduced significantly aimed at making Pakistani products as competitive and resultantly cheaper as compared to world.
He said, National Highways Authority is spending Rs 30 to 35 million per annum to improve its network. Bridges are being built to reduce Peshawar-Karachi journey by half from 72 hours to 36 hours. Karakoram Highway (KKH) is being improved to attract more and more Chinese tourists in the country. It is estimated that by 2020 hundred million Chinese tourist would tour in the world. Pakistan is planning to attract at least 1 million tourists.
Fast trains would be run aiming to reduce journey from South to North in 28 hours. The share of Railways in freight would be enhanced to 30 percent of total freight from current 5 percent within a next couple of years, he added.—Online