Pakistan, China sign MoUs

Pakistan and China signed, on Wednesday, 3 Memoranda of Understanding about different plans aimed at social welfare and economic development of Pakistan, while President Zardari held meetings with Chinese businessmen. The memoranda covered the program of supply of water from Tarbela to Islamabad, establishment of Special Economic Zone in the proposed new city of Zulfikarabad, Sindh, building of 6,000 flats in I-15 sector on the basis of private-public partnership de-silting of canals and barrages in Sindh.
The MoU for water supply to Islamabad from Tarbela, was signed between Chairman Capital Development Authority, Farkhand Iqbal, and President of China Machinery Engineering Company, Zhang Chun. The MoU on the establishment of Special Economic Zone in Zulfikarabad was signed by Managing Director Zulfikarabad Development Authority, Lieutenant General (Retd.) Syed Iftikhar Hussain Shah and Chairman Sichuan Huantong Holding Investment Limited, Yang Yong. Chinese company, China Railway First Group signed MoU for building 6000 flats and developing Sector I-15 in Islamabad.
The agreement on de-silting canals in Sindh was signed by Mr. Saleem Mandviwala, Chairman Board of Investment with the President of China Harbour Engineering Company Limited.
Meanwhile, President Zardari also held separate meetings with four leading Chinese business executives inviting them to take advantage of the investment friendly policies of the Government of Pakistan and to 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.
The first meeting in the series was held with the Chairman of Orient Group/United Energy Group Mr. Zhang Hongwei. The President, appreciating Orient’s Group existing investment in Pakistan in the area of oil and gas exploration and alternate energy, called for greater investment in the energy sector.
He also invited the company to set up an oil refinery at Karachi port.
It is pertinent to mention that President Zardari has been continuously inviting the Chinese companies to undertake projects involving onshore and offshore drilling for oil and gas as well as for reactivating the depleted oil and gas fields in different parts of the country.
During the meeting, he reiterated Government’s commitment to provide all possible facilitation to the Chinese Companies in their business ventures.
President Asif Ali Zardari also said that the untapped tremendous natural resource potential of Pakistan offered great opportunities to the Chinese investors and entrepreneurs not only to get economic benefits but also to help in transforming the traditional Pak-China all weather friendship into a comprehensive economic engagement.
President of Pakistan, Asif Ali Zardari also met with Chairman of China National Machinery Industry Corp (SINOMACH), Ren Hongbin. The firm is the largest machinery manufacturer in China.
During meeting with Hongbin, the President highlighted that the 2nd Pak-China five-year programme for trade and economic cooperation, launched in 2012, with 36 projects, in the sectors of Energy, Transport, Infrastructure, ICT, Industry, Water, Education, Environment, Health, Education and Agriculture offered great opportunities to the companies such as SINOMACH as these companies had the required potential for undertaking mega projects in these areas.
The President while noting with satisfaction on the Neelum Jhelum Hydropower project, expressed the hope that the company would be able to explore more projects of building new dams in Pakistan. The President also invited attention to Zulfikarabad city project, which offered great business opportunities to the foreign investors.
During meeting with Cao Guangjing of Three Gorges Project Corporation, the third meeting in the series, the President remarked that the Three Gorges Dam Project was a living testament to the genius and vision of the Chinese people and their leadership.
While appreciating the interest of the company in building the Bunji, Kohala, Karot and the Diamer Bhasha dam projects and the wind Power and Thar Coal power projects, the President invited them to participate in constructing small and medium sized dams, which he said were critical for the socio-economic development of those regions of the country. The President said that Pakistan was keen to learn from the Chinese experience of growth in every field, especially in the area of hydropower generation, Wind Power, and coal technologies.
The fourth meeting in the series was held with President ZTE, Shi Li Rong. During the meeting, the President appreciated ZTE’s role in the development of Pakistan’s Telecommunication sector. He reiterated his call that ZTE could further help Pak telecommunication sector by helping in technical skills development of the local labour force.