Pakistani PM approves Trade Corridor plan

ISLAMABAD - Pakistani Prime Minister Nawaz Sharif on Friday principally approved the proposed alignment of Pak-China Trade Corridor, with the directions to further evaluate the proposal in terms of time and cost efficiency, officials said.

The prime minister said that the Pak-China Economic Corridor is the future of the country and it will connect Pakistan with China, making Pakistan a hub of transit trade in the region.

Nawaz Sharif offered the remarks in a meeting with government ministers which discussed the Pak-China Trade Corridor from Kashgar to Khunjerab and Gwadar, a statement from the prime minister's office said.

Pakistan and China signed several agreements after meeting in July between Nawaz Sharif and his Chinese counterpart Li Keqiang in Beijing.

The 2,000-kilometre road and rail link connecting Chinese northwestern city of Kashgar to southwestern Pakistani port of Gwadar was among the pacts inked by the two countries.

The corridor is expected to cost around 18 billion U.S. dollars.

Experts are of the view that the corridor will transform Pakistan into a hub of trade and commerce as this project envisages establishing several economic zones and physical links connecting Pakistan and China as well as the region.