ISLAMABAD, Nov 18 (INP): Federal Minister for Kashmir Affairs & Gilgit-Baltistan Chaudhry Muhammad Barjees Tahir on Tuesday said that Pak-China Economic Corridor will bring about $70 billion annual revenue in the form of transit fee. This project like the Suez Canal will play a vital role in the economy of the whole Asia especially Pakistan and China.
Pakistan will be turned into a transit economy soon after the completion of this trade route. This will provide shortest trade route for goods produced in Western China. China, currently, has an export volume of over 2000billion USD which is still increasing. Only a fraction of Chinese trade will turn the fate of the region. Tourism potential of Gilgit-Baltistan has yet to be exploited. Keeping in view the highest number of outgoing tourists of China, a comprehensive tourism policy has been designed by the help of USAID in order to attract Chinese tourists. He said this while talking to Governor Gilgit-Baltistan, Peer Karam Ali Shah who called federal minister in his office in Islamabad.
The federal minister told that lion’s share of $45 billion Chinese investment will be spent in Gilgit-Baltistan. The federal government was striving for all whether alternate routes for GB keeping in view the security and climatic conditions of the region. Minister apprised the Governor that a huge amount had been allocated for construction of Babusar tunnel and Shoonter tunnel. These two tunnels will provide alternate routes to the people of GB in addition to existing KKH. Governor pointed out lack of capacity in rngineering department of GB, which was causing huge losses to infrastructure owing to poor designs.
He proposed introduction of ‘Design’ and ‘Structure’ engineering to existing setup of GB.