E-MAIL
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 inter-city and intra-city bus services in Sindh.
Pakistan ramps up coal power with Chinese-backed plants
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.
They discussed various aspects of investment in plying inter-city and intra-city buses in Sindh, including Karachi.
The delegation told the SBI chairperson that their company was keen to pour money into running buses on different routes in Karachi and is also interested in setting up a manufacturing plant for the purpose.
Memon welcomed their offer and noted that there were many opportunities of 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.
Mass transit
The Sindh government is set to allocate Rs3.19 billion for the transport and mass transit system in the budget for fiscal year 2017-18, a source in the Sindh Finance Department said.
The allocation includes Rs2.29 billion for 11 new schemes for inter-city 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.
China-Pakistan Economic Corridor: ‘Long-term plan’ to be inked soon
Apart from these, the 11 new schemes comprise construction of a bus terminal in Garhi Khairo, Jacobabad; construction of integrated Intelligent Transportation System for Karachi and upgrading of traffic signals (second phase) in multiple cities including Karachi.
The provincial government is scheduled to announce the budget on June 5, 2017.