Pak-China cooperation: CDB agrees to back Diamer-Bhasha dam conference

Event will be held for prospective investors in energy-generation project

BEIJING:

The China Development Bank (CDB) has agreed to be local sponsors of an awareness conference that would be held for prospective investors for the construction of the 4,500 megawatt (MW) Diamer-Bhasha dam.

This transpired during Finance Minister Ishaq Dar’s meeting with CDB Executive Vice President Zhao Xiaoyu in Beijing. During the meeting, Dar appreciated the CDB’s support in the past and hoped for the cooperation to continue.

The finance minister said the present government was on the trail of a major reform programme in taxation, power, banking and corporate sectors. Rupee stabilisation, stock exchange improvement and increase in the forex reserves were some of the immediate positive results.

“The government has set tough targets for itself in the Vision 2025 document and is determined to achieve them,” said Dar. “Strict financial discipline and cut down on wasteful expenditure showed our resolve to implement the reform programme.”

Dar said the CDB would reap further dividends if it teamed up to develop numerous potential sectors. He mentioned that the Pakistani policy regime in the power sector was very rewarding.

Similar sentiments

Meanwhile, Xiaoyu expressed appreciation for Pakistan’s cooperation particularly in the investment sector. He said that the Pak-China Economic Corridor had opened up a new vista of opportunities.

Pakistan is providing good space to companies to establish their footprint. He said that the Pakistan China Investment Company was an example of good partnership between Pakistan and CDB.

Published in The Express Tribune, October 26^th, 2014.

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