The China-Pakistan Economic Corridor (CPEC) has indeed opened several avenues for business ventures that were previously unexplored between Pakistan and China.In one such development, a renowned Chinese company – Yutong Bus – has expressed interest in investing in intercity and intra-city bus services in Sindh.
An 11-member delegation of Yutong Bus, led by General Manager Shi Cun Tu, expressed the interest while talking to Sindh Board of Investment (SBI) Chairperson Naheed Memon at her office on Tuesday.
Memon welcomed their offer and noted that there were many opportunities for investment in the transport sector in Sindh and the provincial government would continue to encourage public-private partnership projects.The SBI chairperson asked the delegation to come up with suggestions on the basis of their priorities so that the Sindh government could take further steps.
The Sindh government is set to allocate Rs3.19 billion for the transport and mass transit system in the budget for the fiscal year 2017-18, a source in the Sindh Finance Department said.The allocation includes Rs2.29 billion for 11 new schemes for intercity and intra-city transport services in the province. The provincial government is considering initiating multiple road transportation projects like the Green Line project launched by the federal government in Karachi.
The projects eyed by the Sindh government include Bus Rapid Transport Service (BRTS) Red Line, BRTS Blue Line and BRTS Yellow Line. All the three projects are for Karachi, the business hub of Pakistan.
Other transportation schemes include expansion in road and circular railway networks within and among cities including Karachi, Jacobabad and Khairpur, the source said.
No.of Reads (31)