ISLAMABAD: Federal Minister for Economic Affairs Makhdum Khusro Bakhtyar witnesses the signing ceremony of Letter of Exchange for 'Rehabilitation of Specific Sections of National Highway N-5 Project' at Ministry of Economic Affairs, here Thursday. Chinese Ambassador to Pakistan Nong Rong and Secretary Economic Affairs Division exchange documents after signing the agreements. - PID photo

ISLAMABAD: Pakistan and China have signed a grant agreement of $100 million dollars (RMB 659.8 million) to repair National Highway-5 (N-5).
The signing ceremony in this regard was held at the Economic Affairs Division on Thursday.
Minister for Economic Affairs Makhdoom Khusro Bukhtiar and Chinese Ambassador to Pakistan Nong Rong were also present on the occasion.
Under the project, 66 kilometres in four parts of National Highway between Hala, district Matiari and Moro, district Naushahro Feroze will be repaired.
Speaking on the occasion, Makhdoom Khusro Bukhtiar said this project will help to improve road infrastructure and augment the north-south connectivity. He thanked China for supporting Pakistan for completion of N-5 project, fighting against COVID-19 and curbing the locust.
The minister lauded the grant assistance extended by the government of China for various infrastructure and socio-economic projects in Pakistan. He also appreciated the significant work of Joint Working Groups on Socioeconomic Development and Transport Infrastructure under the CPEC. He highlighted that the socioeconomic projects agreed therein are in line with the vision of PTI government for socio-economic uplift of the common people and enhanced economic activities in the country.
The Chinese ambassador in his remarks said that cooperation in socio-economic development with Pakistan will continue. He said that the National Highway 5 (N5) is an important road that extends from the south part to the north and west border in Pakistan, and carries a large amount of traffic capacity. He said that the new project of rehabilitation of N5 is the largest road project funded by Chinese grant in recent years in Pakistan. The implementation of this project will further increase the traffic capacity, while facilitating people’s travel along the route.
He said that construction of the project will also create considerable employment, and promote related building materials and transportation sectors along the route. The Embassy will work closely with EAD and other relevant departments to ensure the project starts at the earliest, he further said. He quoted a Chinese saying, which means “to be rich, build roads first”. He hoped that the full function of N5 road would definitely bring fortune and prosperity to the Pakistani friends. – TLTP