A Chinese delegation, led by the consul general in Karachi, Yang Yundong, met with President Asif Ali Zardari on Wednesday and expressed interest in investing $1 billion to establish a medical city in Pakistan. This initiative aims to enhance the country’s healthcare sector.
China, a longtime ally of Pakistan, has made significant investments through the $65 billion China-Pakistan Economic Corridor (CPEC), which covers various projects in infrastructure, energy, and more, aligning with Chinese President Xi Jinping’s Belt and Road Initiative. However, recent tensions have surfaced due to concerns over the security of Chinese workers and projects in Pakistan, following a rise in militant attacks on Chinese nationals and their projects. There has been media speculation that China may halt CPEC projects unless Pakistan ensures security.
In addition to the medical city, the Chinese delegation expressed interest in investing across several sectors of Pakistan’s economy, including agriculture, livestock, energy, transport, and manufacturing. President Zardari assured the delegation that Pakistan is committed to supporting Chinese investors and emphasized the importance of increased interaction between the people and businesses of both countries to boost bilateral trade and economic relations.
Zardari also highlighted the development of Gwadar, a deep-sea port in southwestern Balochistan being developed under CPEC. He noted that Gwadar will soon become a regional trade hub, enhancing connectivity and boosting regional trade and cooperation. Gwadar, strategically located on the Arabian Sea, has faced challenges like a separatist insurgency and underutilization due to its distance from major markets and security concerns. However, the China Overseas Port Holding Company (COPHC), which operates the port, plans to expand its capacity to handle up to 400 million tons of cargo annually by 2045.
Earlier this year, Prime Minister Shehbaz Sharif directed that 50% of all public sector cargo be routed through Gwadar, a move that received cabinet approval in September.
