Chinese companies “interested” in investing in Pakistani projects

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BEIJING (Reuters) – Leading Chinese companies during Prime Minister Shehbaz Sharif’s official visit to China have shown strong interest in investing in Pakistan’s solar, hydro and other infrastructure projects, ARY News reported on Wednesday.

According to a statement released by the Prime Minister’s Office (PMO), major Chinese companies have also accepted Prime Minister Shehbaz’s invitation to invest in mega-projects, including the Karachi drinking water project.

Prime Minister Shehbaz Sharif has invited Chinese business leaders to visit Pakistan and invest in the government’s massive solar power project to generate 10,000 megawatts of electricity.

He also encouraged Chinese investment in Pakistan’s alternative energy resources, including wind power plants.

The prime minister highlighted the rapid completion of infrastructure at Gwadar International Airport, which Chinese companies have assured will complete the project by early 2023.

During the meeting, the Prime Minister said that the government since taking office had resolved several issues regarding Chinese investors who had paid the pending dues of 160 billion rupees.

Read more: PAKISTAN AND CHINA AGREE TO ENHANCE COOPERATION ON CPEC AND OTHER AREAS

He pledged to address issues relating to land acquisition for the construction of the Diamer Bhasha dam and other obstacles to the completion of the Mohmand dam as a matter of priority.

Prime Minister Shehbaz Sharif assured the provision of ironclad security for Chinese personnel working in Pakistan and said general security would be provided for those delegated to the China-Pakistan Economic Corridor (CPEC) project and other other joint initiatives.

To address the water shortage in the Pakistani metropolis of Karachi, the prime minister said the federal government and the Sindh government are ready to work with Chinese companies to solve the problem.

The Prime Minister expressed his belief that strong trade and investment ties between Pakistan and China will lead to further strengthening the bilateral relationship.

He thanked Chinese companies for their keen interest in Pakistan’s development projects, especially Gwadar Port, Main Line-1 Railway and several other projects.

He also expressed his gratitude for China’s generous support following the massive flash floods in Pakistan.

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