Coalition govt taking steps to remove impediments to boost investment: PM Shahbaz

ISLAMABAD, Pakistan: Prime Minister Shahbaz Sharif has stated that deepening China-Pakistan economic cooperation is critical to Pakistan’s socio-economic uplift.


Talking to a high-powered delegation of Chinese state-owned Company NORINCO in Islamabad on Thursday, the prime minister highlighted the significance of China Pakistan Economic Corridor (CPEC) as transformational project for the mutual benefit and development of both the friendly Countries.

The prime minister invited the Chinese Companies to invest in the huge potential of renewable energy, particularly in the solar power in Pakistan.

The prime minister also appreciated the NORINCO for its role in the Lahore Orange Line Metro Train project, which, he said, is facilitating hundreds of thousands of commuters in Lahore on a daily basis. He recalled that it was for the first time that open bidding took place in a G2G project i.e. Lahore Orange Line.

Shahbaz Sharif said that further negotiations were held with the lowest bidder, leading to a saving of US$ 600 million, adding that it was certainly a milestone in the development history of Pakistan.

The delegation praised Prime Minister Shahbaz Sharif for his untiring efforts to steer Pakistan out of the current economic crisis.

It noted that Shahbaz Sharif is a great friend of China whose business-friendly policies have deepened economic cooperation and facilitated foreign direct investment in the country.

The NORINCO delegation showed keen interest in investing in the wide spectrum of renewable energy projects in Pakistan, especially in the wind corridor in Thatha whereby a 100 MW wind power project was proposed. Investment in fiber optic along the railway lines, copper and iron ore mining at proven reserves, and infrastructure development in the big cities of the country were among the key investment opportunities highlighted by the company as potential venues for investment.

The prime minister said that Pakistan is open to investment and that his government is taking steps to remove all impediments for further facilitation of the investors.

The prime minister also thanked the Chinese President Xi Jinping and Premier Li Keqiang for their consistent and unwavering support to Pakistan, particularly in current economic situation in Pakistan.

The delegation was led by the Vice-President NORINCO International Wang Xiaobing and the CEO NORINCO International (Pakistan) Li Chen.

The Federal Ministers Khawaja Saad Rafique, Syed Naveed Qamar, Chaudhary Salik Hussain, Advisor to PM Ahad Cheema, SAPMs Syed Tariq Fatemi, Mohammad Jahanzeb Khan, Zafar-Ud-Din Mahmood and officials from concerned ministries were also present in the meeting.

Mati-Ullah is the Online Editor For DND. He is the real man to handle the team around the Country and get news from them and provide to you instantly.

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