Shahbaz explores energy prospects in China

Punjab CM meets Chinese premier, thanks him for cooperation in building Lahore-Multan motorway

Punjab Chief Minister Shahbaz Sharif and his delegation met heads of different energy companies, financial institutions, development agencies and banks in Beijing on the third day of his visit to China and discussed various proposals for investment in coal, solar and hydle power projects in Punjab.

The chief minister informed Chinese investors that solar power plant in south Punjab will start operating by the end of the current year. He said that in order to facilitate investors, Punjab government will initially make investment in various energy projects. He said that there is a vast scope of setting up power plants operated with hydle, solar, wind and coal-fired energy and Punjab government is offering the best rate of profit to investors. He said that the projects to be started with Chinese cooperation will be executed with the same speed at which Metro Bus Project was completed in Lahore.

Meanwhile, talking to media, the chief minister said that the agreement reached between China and Pakistan the other day in Beijing is of historic significance. He said that under the agreement China will make investment of billions of rupees in Pakistan and it will be the heaviest Chinese investment in Pakistan in the history of the country. He said that China has promised to invest 20 billion dollars in energy sector only to rid the people of Pakistan from load-shedding.

SHAHBAZ MEETS CHINESE PREMIER:

Later, the chief minister attended a reception hosted by the Chinese prime minister.

Speaking on the occasion, the chief minister expressed gratitude to the Chinese prime minister for announcing to cooperate in the construction of motorway from Lahore to Multan. The Punjab chief minister’s visit has been greatly helpful in removing reservations of Chinese authorities and investors created during the tenure of the former government.

The CM also informed the Chinese leadership and investors about the efforts made by the federal and provincial governments since coming into power for increasing electricity production.