proposed new city Zulfikarabad in Sindh and the building of 6,000 flats in I-15 sector on private-public partnership basis, and an agreement for the de-silting of canals and barrages in Sindh province.
The MoUs were signed by respective officials from the two sides and witnessed by President Asif Ali Zardari and members of his entourage here.
The agreement on de-silting canals in Sindh was signed by Saleem Mandviwala, Chairman Board of Investment, with the President of China Harbour Engineering Company Limited.
The MoU for the establishment of Zulfikarabad Special Economic Zone was signed by
Managing Director Zulfikarabad Development Authority Lt Gen (R) Iftikhar Hussain Shah and Yang Yong, Chairman of the Sichuan Huantong Holding Investment Limited.
The MoU for water supply to Islamabad from Tarbela was signed by Farkhand Iqbal, Chairman Capital Development Authority, and Zhang Chun, President of China Machinery Engineering Company (CMEC), the former also signed another MoU for building 6000 flats and developing Sector I-15 in Islamabad with another Chinese company CRFG (China Railway First Group).
Spokesperson to the President Senator Farhatullah Babar while giving details of the agreement and MoUs, said that with the signing of the memorandums and agreement today, a fresh impetus has been provided to further strengthening the economic engagement between the two
countries.
The President also held separate meetings with the four leading Chinese business executives inviting them to take advantage of the investment friendly policies of the Government and to further extend their business ventures in all the sectors, especially in the areas of energy, oil and gas, mining, engineering goods, electronics, chemicals, infrastructure, telecommunications, IT and agriculture.
Senator Babar said that the President talked about the great investment opportunities present in Pakistan and invited the Chinese business executives to further extend their business ventures in the country assuring them all possible facilitation.
He reminded that the businessmen must take advantage of some very important recent developments between the two countries such as the currency swap agreement, the 2nd five-year trade and economic programme and the opening of Chinese Bank branches in Pakistan.
COMMENTS (11)
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How many MOU's are gathering Dust in Pakistan, already????
Pakistan welcomes foreign investments and joint ventures to kick-start an ailing economy. The country has to move forward and needs to reform in order to attract other foreign investors as well. Education and political stability are key to growth and prosperity,
I dont understand why this government keeps taking loans with interest for work that can be done by the domestic companies/workers. They can borrow from the commercial banks and pay for the work through the companies/labor force.
@Ordinary Villager Looks like you have very Ordinary Insight on Politics... Current Government of PPP And PML-N cannot win again in the next election. People have decided against them and you will see it yourself in the next elections. Stay Tuned for the Tsunami!
funny that we are begging chinese for even building flats in this country. The free trade agreement with china has literally closed all small and medium business, and the large manufacturers are all working on chinese loans. It seems china owns this country now.
Zardari is not symbol of unity he is symbols of deviding nation and courty.he has divided whole country into small pockets. I have never seen Pakistan as destabilise as its now.just look at the killings in only Karachi in last 5 months 750 people murdered. Where is Zardari and his govt? Actually they bust to keep themselves in the office they don't care how many people are being killed. If Pakistani nation want to keep Pakistan alive in the world map then get Zardari out otherwise he will destroy the courty that was the mission in his mind when he came to office.
This is very true, all PPP projects r in Sind n no one is interested in developing Punjab
@Ordinary Villager: Ohh, now PML-N wants to play punjabi card after sitting 3.5 years on zardar's lap. Is federal govt. stopping from fighting against corruption, land grabbing, law n order issues etc etc. The current Punjab govt. is worse than the previous one. Both the sharifs are incompetent/cheaters. Now in the election year, chota sharif is doing all this drama. We all know how he supported PPP all these years. Sharifs cant fool the nation anymore.
@Ordinary Villager ..."It seems Punjab is not in Pakistan anymore.".......neither is Balochistan!!
If PAK can build a bomb, can't she desilt the canals and also build flats? This could provide local employment and jump start the micro enterprises. Or these MoU are due to financial constraints ?
The Federal Government should give full autonomy to Punjab so that they could make some agreements on their own otherwise if PPP will win along with PTI then it will be Destruction of Punjab as every agreement from Wind Generation to any other agreement is done is other provinces while Punjab is left aside. In Winter they cut our gas and in summer electricity and now they are building economic new economic zones while existing economic zones in Punjab in Faisalabad, Sialkot, Gujrat and Lahore economic zones are in destruction mode. Punjab government should tell the Federation that enough is enough. The plots in I-15 are being made to make the local population a minority and enable people from other provinces to take Over Islamabad and finally took over federation and destroy Punjab ultimately. It seems Punjab is not in Pakistan anymore.