Pakistan and China have signed a Letter of Exchange (LOE) for Vocational School Equipment and Material worth $4 million (Rs. 650 million).
The signing ceremony for LOE was held at the Ministry of Economic Affairs. China, under this project, will provide training equipment for the vocational training institutes/ schools around Pakistan through the National Vocational and Technical Training Commission worth $4 million (approx. Rs. 650 million).
Yao Jing, Ambassador of the People’s Republic of China to Pakistan and Dr. Wang Zhihua, Minister Counsellor Embassy of China in Pakistan attended the ceremony and from Pakistan side, Noor Ahmed Federal Secretary of Economic Affairs Division signed the LOE. The LOE was signed by the Chinese Ambassador and Secretary Economic Affairs Noor Ahmed on behalf of their respective governments.
The ambassador reassured Chinese cooperation for socio-economic development in Pakistan. A number of projects for the social welfare of the poor and vulnerable people are already under progress including PM’s Low-Cost Housing Scheme and boosting the rural economy through agricultural support.
China has also supported Pakistan to mitigate the impact of the COVID-19 pandemic in addition to providing pesticides and equipment to control the locust spread in the southern parts of the country. The ambassador also appreciated the continuity of China Pakistan Economic Corridor (CPEC) projects particularly the establishment of export-based industry in Special Economic Zones under SEZs despite challenging conditions globally due to the pandemic.
China and Pakistan are all-weather strategic cooperative partners, and China will continue to support Pakistan in the fight against COVID-19 and contribute to the implementation of the people-oriented cooperative projects between the two countries with CPEC as a major platform.
Addressing the signing ceremony, Noor Ahmed thanked the Chinese government for providing the equipment which is critical for the up-gradation of vocational schools and the improvement of vocational training capabilities of Pakistan.
He reiterated a strong commitment to strengthening and expanding bilateral economic cooperation between China and Pakistan. Both sides agreed that the ongoing initiatives will be pursued very closely to achieve the targeted completion so that the people can benefit from Chinese assistance.
The project is consistent with the vision of the Pakistani government to promote vocational training and enhance productivity within the economy, said Ahmed, adding that Pakistan and China enjoy a very close relationship and China is a true friend of Pakistan that always extends a helping hand in the most challenging times.
As per the agreement, China will provide computers, equipment, and technical training to the National Vocational and Technical Training Commission of Pakistan, and the project would cost $4 million. Under the project, 17 vocational schools will be upgraded.
Both sides reiterated continued economic cooperation between the nations.