Industrial and Commercial Bank of China has assured Punjab Chief Minister Shahbaz Sharif of investment in energy, infrastructure and textile sectors besides construction of a big industrial city in Punjab. The assurance was given by Jiang Jianqing, chairman of the bank, during a high level meeting in Beijing in which was also attended by the chief minister along with the delegations of Planning and Development chairman and senior officers.
As a result of this decision, foreign investment of billions of dollars will be made in Punjab during the next few years. The Chinese officials said that their bank besides providing capital for development projects in the province will also help the government in acquiring investment from other international sources and private companies.
While speaking on the occasion, Shahbaz said that the decision of investment by the bank will greatly help in achieving the targets set in energy and other sectors. He also welcomed the decision of the bank to open its branch in Lahore and assured all out cooperation in this regard.
The chief minister also met senior officials of the Chinese investment companies and financial institutions besides local investors in Beijing and discussed matters regarding standards, timeline and minimising the cost of development projects. New Chinese investment companies during the meeting with the chief minister announced investment in energy and infrastructure sectors. The chief minister welcomed the assurance given by the companies of investment in energy and infrastructure sectors. He said that mutual cooperation between China and Pakistan is increasing speedily.
While addressing the Pakistani delegation visiting Beijing for participating in the meeting of Joint Economic Council, the chief minister said that history has provided a golden opportunity to Pakistan to progress with the cooperation of China and it is our collective responsibility to take full benefit in this regard. He said that China has resources, skill and technology and is ready to extend all out help to Pakistan. He said that honesty, commitment and hard work are necessary for availing this opportunity.
Talking to journalists in Beijing, Shahbaz said he has come to China with the mission to change the destiny of Pakistan and Prime Minister Nawaz Sharif has given a new dimension and depth to Pak-China relations. He said that the prime minister will always be remembered as the builder of Pak-China relationship. He said that despite the negative impact of sit-ins, all out efforts are being made to complete the ongoing projects with Chinese cooperation within minimum time. He said that the nation is waiting for the visit of the Chinese president.
He held separate meetings with Chinese investors and delegations of China National Textile and Apparel Council (CNTAC) and China Association of Development Zone. Matters regarding investment in energy, infrastructure, education, health, agriculture and other sectors were discussed on the occasion. The chief minister offered the investors to invest in 120 megawatt hydel power projects in Punjab to which the Chinese investors expressed deep interest.
While talking to a delegation of Chinese investors, he said that besides ongoing projects, work is also being carried out on new projects with the cooperation of China. He said that Pak-China agreements are based on transparency, hard work and mutual trust. He said that work is speedily in progress on a coal-based power project in Sahiwal with the Chinese investment. He said that there are also prospects of generation of power through wind energy in Punjab.
While talking to senior officials of China National Textile and Apparel Council, he asked CNTAC to invest in the apparel park near Motorway in Sheikhupura. CNTAC expressed keen interest in the project. He said that there are vast opportunities of investment in the apparel park and also assured protection of their capital.
He said that Chinese investors can take the profit to their country. He said that planning has been made to set up separate textile and garment zones in the park. He said that Pakistan has skilled manpower in this sector. He said that as a result of cooperation in the project of the park, Pakistan will have the opportunity to benefit from Chinese expertise and technology. He said that after the granting of GSP-Plus Status, Pakistan can export its textile products to the European countries. He said that the Apparel Park project on Motorway is nearer to Pak-China Economic Corridors.
Talking to the delegation of China Association of Development Zone, he said that there are vast opportunities of investment in energy, infrastructure, agriculture, livestock, education, health and other sectors in Punjab and facilities are being extended to foreign investors on priority basis. He said that the investors should benefit from investment opportunities in energy and other sectors in the province where a conducive atmosphere for investment has been created. He said that the Punjab Investment Board is providing all facilities to foreign investors under one roof.
Earlier, the chief minister was given a warm welcome when he reached the Beijing Airport. He along with the Pakistani delegation will attend the fourth meeting of Joint Economic Cooperation Council. The delegation comprises Federal Minister for Planning and Development Ahsan Iqbal and senior officers of different ministries.
