Deal inked for port development.

ISLAMABAD -- Pakistan and China have signed a new advisory deal for faster development of Gwadar Port aimed at giving a push to the strategically important pillar of the China-Pakistan Economic Corridor (CPEC) that is facing inordinate delays.

The advisory deal was among 20 agreements and memoranda of understanding (MoUs) that Pakistan and China signed mostly in areas recommended by China.

Two Chinese state institutes would provide technical, intellectual and consultation support 'to help develop Gwadar Port in a better and faster way', read the MoU signed on Wednesday. They also signed an addendum to the Mainline-I project of CPEC for reducing its scope and design to construct the project within one-third reduced cost of $6.7 billion. The other important agreement was for strengthening mineral development and industrial cooperation within the CPEC framework.

Caretaker Prime Minister Anwaarul Haq Kakar and Chinese Premier Li Qiang met on sidelines of the 3rd Belt and Road Forum in Beijing and witnessed the signing of a host of agreements and MoUs including the expert communication mechanism for Gwadar Port development.

The Institute of Comprehensive Transportation of the National Development and Reform Commission (NDRC) of China and the Institute of Spatial Planning and Regional Economy of NDRC will provide assistance to the Gwadar Port Authority for faster development of the port.

Under the one-year MoU, China will provide assistance for port planning, construction, operation, logistics and industry.

The Gwadar Port has been described as the lynchpin and gateway to CPEC but its development is marred by a host of issues. Pakistan has not been able to construct world-class infrastructure and also could not populate the industrial areas for maximum utilisation of the port and its industrial zone.

The MoUs also include cooperation in areas of connectivity, food security and research, media exchanges, space cooperation, urban sustainable development, capacity building, mineral development and industrial cooperation, climate change and vaccine development, according to an announcement made by the PM Office.

During the first decade of CPEC, Pakistan received only $25 billion in investment against the announcement of a total of $62 billion and one of the reasons for the low investment was its failure to set up Special Economic Zones (SEZs).

PM Kakar has underscored the importance of CPEC for Pakistan's economy and noted with satisfaction its...