PM to bring power, development from China

*Sharif’s three-day visit aimed at attracting over $46b investment

*China to provide $33b for 21 energy projects of 16,520MW

Prime Minister Nawaz Sharif has said that his visit to China will help in ushering in development, prosperity and employment opportunities in the country.

During the premier’s three-day visit, a number of memorandums of understanding (MoUs) will be signed and the visit is expected to help enhance bilateral trade, develop infrastructure, strengthen people to people contacts and to address the issue of load shedding in Pakistan. The visit aimed at attracting an investment of over $46 billion, has a special significance and is an effort to control the “damage done to Pakistan’s economy by the sit-ins”.

Chinese President Xi Jinping had to cancel his visit to Pakistan due to the protests and sit-in in Islamabad and consequently Pakistan had to endure loss of billion of rupees, the government has alleged. In the last three months Pakistan has endured multiple economic losses due to the sit-ins.

POWER PROJECTS:

Energy is vitally important for the economy and this has remained on the top of the prime minister’s agenda, ever since he assumed power in June last year. Over 21 projects for generating 16,520 megawatts power at an estimated cost of around $33 billion would bring substantial improvement in all sectors of economy after completion. The important projects to be completed with the Chinese help include 1,320 megawatts Sino Hydro Resource Project, two 660 megawatts Sahiwal Coal Fired Projects, 2,330 megawatts Engro Thar Coal Fire Project, 1320 megawatts each, Muzaffargarh Coal Power, Rahim Yar Khan, SSRL Thar coal projects and Thar Mine Mouth Oracle projects, 1,000 megawatts SSRL Thar Coal Block 62,640 megawatts Gaddani Power Park Project, 300 megawatts Gwadar Coal, 100 megawatts Quaid-e-Azam Solar Park, 50 megawatts Dawood Wind Farm, 100 megawatts UEP Wind Farm, 50 megawatts Sachal Wind Farm, 50 megawatts Sunnec Wind Farm, 870 megawatts Suki Kinari Hydropower Station,720 megawatts Karot Hydropower Station and others.

INFRASTRUCTURE:

Both the countries are set to sign agreements to construct various roads, railway and other infrastructure development projects at an estimated cost of around $4 billion.

The prime minister would sign an agreement to construct 440 kilometers KKH II Raikot-Islamabad section, Karachi-Lahore Motorway, Havelian Dry Port, Orange line Project of Lahore, Cross Border Optical Fiber Cable and Hari-Ruba Economic Zone, Sino hydro Resource Limited and Al Mirqab Capital.

With Chinese investment, Pakistan’s economy is set to take off and flourish generating numerous employment opportunities for the people of Pakistan, especially the youth.

The premier’s entourage to China comprises Punjab Chief Minister Shahbaz Sharif and Water and Power Minister Khawaja Asif, Petroleum and Natural Resources Minister Shahid Khaqan Abbasi, Planning, Development and Reforms Minister Ahsan Iqbal and Special Assistant to PM Tariq Fatemi.