Chinese investors keen to invest in South Balochistan: Asad Umar

Pak-China imports remained top among other countries: SBP

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ISLAMABAD- Minister for Planning, Development and Special Initiatives, Asad Umar said on Tuesday that Chinese investors have expressed their willingness to invest in South Balochistan package.

Briefing media persons, the minister said that the Chinese investors would invest over $1 billion in this project.

He said that the South Balochistan project was 35 times bigger than the Phase-1 of North free zone of Gwadar, adding that the Prime Minister Imran Khan had announced this historical package in November for Balochistan.

The minister said, 53 development projects worth over Rs600 billion have been included in the development programme of the current fiscal year (2021-22).

The minister said the federal Public Sector Development Programme (PSDP) contains around Rs1200 billion development projects for Balochistan.

He said it was for the first time that such development works were being executed in Balochistan under the leadership of Imran Khan, adding that all this was being done in coordination with the Balochistan government.

He said that the government was also providing internet facilities to the youth of Balochistan.

SPB reported that, China topped the list of countries from where Pakistan imported different products during the first eleven months of financial year (2020-21), followed by United Arab Emirates (UAE) and Singapore.

The total imports from China during July-May (2020-21) were recorded at $11454.962 million against the $8255.990 million during July -May (2019-20), showing an increase of 38.74 percent during the period, State Bank of Pakistan (SBP) said.

This was followed by UAE, where Pakistan imported goods worth $6199.069 million against the imports of $5976.483 million last year, showing an increase of 3.72 percent.

Singapore was the at third top country from where Pakistan imported goods worth $2769.481 million against the imports of $2148.135 million last year, showing growth of 28.92 percent, SBP data revealed.

Among other countries, Pakistani imports from United State of America (USA) stood at $2198.657 million against $2039.000 million during last year, showing growth of 7.83 percent while the imports from Saudi Arabia were recorded at $2106.018 million against $1250.810 million last year, showing increase of 68.37 percent, the data revealed.

The imports from Kuwait were recorded at $1167.003 million against $984.636 million whereas the imports from Malaysia were recorded at $1094.860 million against $863.411 million last year.

During July-May, the imports from South Korea were recorded at $1183.695 million against $672.884 million whereas the imports from Japan were recorded at $1372.124 million against $972.550 million whereas the imports from Switzerland stood at $1010.711 million against $566.923 million.

Similarly, the imports from Germany during the period under review were recorded at $1018.080 million against $868.437 million while the imports from Thailand stood at $961.741 million against $657.015 million.

Pakistan’s imports from Qatar were recorded at $1129.656 million during the current fiscal year compared to $1542.071 million last year, whereas the imports from UK stood at $682.009 million against $629.280 million.

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