Pak-China relations: Special incentives being offered to Chinese investors, says Shahbaz

Chief minister says purpose of frequent foreign visits is to overcome energy crisis.

LAHORE:

The purpose of Pakistan’s government leaders’ foreign visits is to overcome the energy crisis, Chief Minister Shahbaz Sharif said on Thursday. He said with help from friendly countries, infrastructure, transport and education sectors would be developed rapidly. Sharif was talking to the media in Bao on the second day of his visit to China.

The chief minister said for the first time that agreements for mutual cooperation had been signed with China, at the provincial level. He said an agreement for iron ore exploration in Rajwa, Chiniot, had been signed with a Chinese company at the beginning of the month.

The chief minister said that in the wake of grant of GSP Plus status, the government had started a project with the cooperation of a large Chinese group to set up the Quaid-i-Azam Apparel Park which will be equipped with the latest facilities. He said development of textile and garments sectors was of vital importance. He said the Chinese group would be investing $2 billion in the project. The same group has expressed interest in setting up two coal power plants of 660 megawatt each in Sahiwal and two plants of 135 megawatt each in two industrial estates. The chief minister said that the cooperation of Chinese companies reflected the growing trade and economic relations between the two countries.

Sharif said China had always played a part in the progress and development of Pakistan, and a new era of Pak-China friendship had begun. He said the friendly relations between the two countries had turned into useful economic ties.

Sharif said the investment-friendly policies of the present government had restored the confidence of foreign investors and several Chinese companies were investing in energy, infrastructure and transport sectors. He said special facilities and incentives were being offered to Chinese investors.

Sharif also thanked the Chinese for the hospitality shown to him at both official and unofficial levels.

The chief minister and Prime Minister Nawaz Sharif also met the Chinese Prime Minister Li Ke Qiang and Exim Bank President Li Ruogu.

The chief minister said Pakistan attached a lot of importance to its relations with China. He said China’s rapid growth was a model for all countries, including Pakistan.

The chief minister also attended a session on Reviving the Silk Road: A Dialogue with Asian Leaders. Sharif also met the chief executive officers of investment companies in the energy, infrastructure and transport sectors.

Published in The Express Tribune, April 11^th, 2014.