PM leaves for China, expected to sign projects worth $35bn
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ISLAMABAD: Prime Minister Nawaz Sharif on Friday left for a visit to China and is expected to sign projects worth $35 to $40 billion.
During the visit, the prime minister will meet Chinese President Xi Jinping and other officials. The leadership of both the countries will discuss regional and global matters.
The premier will also attend host-partners dialogue during Asia-Pacific Economic Cooperation (APEC) Informal Leaders’ meeting in Beijing.
Read: China invites Nawaz to attend host-partners dialogue in Beijing
Dr Mussadiq Malik, newly-appointed spokesperson for Prime Minister Nawaz, had told reporters that the visits were aimed at rebuilding investor confidence, visibly shaken by the ongoing political crisis in the country.
“Whatever investment the Chinese will be making as a result of these projects will not be a loan to the government of Pakistan,” he had said.
However, the PTI leadership contends that this money is coming in the form of loans rather than investment.
Jinping was due to visit Pakistan in mid-September this year, but called off his trip due to the ongoing political protests in the capital.
Read: Chinese president cancels Pakistan trip, India visit still on
Earlier in October. the prime minister had spoken highly of the recent progress in Pakistan-China relations. He had also appreciated the timely support and assistance rendered by the Chinese government for the relief of the displaced persons and the flood victims.
Prime Minister Nawaz had stressed that Pakistan firmly supports China’s core interests and major concerns and was ready to work with the neighbouring country to keep building mutual trust, fast-tracking the construction of Pakistan-China Economic Corridor and upgrading the bilateral cooperation for the benefit of both the countries.
Following his China visit, the prime minister will also make brief trips to Germany and the United Kingdom.
Read more
On DawnNews
Comments (56) Closed
Nov 07, 2014 11:39am
Investment without any negotiation? ? China will invest and forget? ? Hmmmmmm..... something fishy
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Nov 07, 2014 11:43am
Seems to me that he is just inviting himself to the host country instead of other way around.
I call that real isolation.
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Nov 07, 2014 11:46am
Its an attempt to grasp the commission making opportunity forgone due to cancellation of the visit
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Nov 07, 2014 11:59am
His brother was just there?
You got to be kidding Mr. PM?
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Nov 07, 2014 12:17pm
Imran khan and his handlers in UAE must be crying.
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Nov 07, 2014 12:18pm
This is a good thing. We should not be so blind due to the daily unsubstantiated allegation by Imran to not be able to see and appreciate a good thing. If China makes some profit on it, there is nothing wrong with it as long as a Pakistan benefits. It almost feels like some people don't want the power crisis to be resolved just to get their guy in the PM house. So much for patriotism!
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Nov 07, 2014 12:22pm
No respect for NS. A beggar thru & thru. Tragic like zardari before him who had no respect on the international stage. NS a cataclysmic failure for pakistani economy. No heart, no vision, no personality & certainly no brains or hair!
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Nov 07, 2014 12:26pm
Perusing personnel and family business as top agenda...country comes second for these badshas.
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Nov 07, 2014 12:27pm
May Allah show Pakistanis true face of Nawaz.
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Nov 07, 2014 12:31pm
dont deal for defense thing that will not help
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Nov 07, 2014 12:56pm
....and he's not bothered as to how PAKISTAN will pay for this.....because he won't be around.
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Nov 07, 2014 12:57pm
Major kickbacks!
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Nov 07, 2014 12:59pm
indeed encouraging news, this will shape future of Pakistan
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Nov 07, 2014 01:05pm
All I can say is, there are two things infinite in the universe; human stupidity and pessimism of Pakistanis.
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Nov 07, 2014 01:09pm
He is going to finalise how much kickback will the Itefaq industries be getting.
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Nov 07, 2014 01:16pm
It will frustrate IK and he will become more anxious.......unable to do anything in KPK and attarct investment....Telenor, Mobilink, and many other companies came in Mushrraf era and what a good effect thgey have made..they are taking aways good profits but are offering quality service to citizens, job offers etc.e tc...so Nawaz keep it up...Thumbs up for your performance...
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Nov 07, 2014 01:24pm
What new schemes have our PM hatched to enrich him self and his close associates?
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Nov 07, 2014 01:33pm
Most of the 35 billion dollar investments will be MOUS.
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Nov 07, 2014 01:34pm
Investment in Pakistan used in the correct way will benefit Pakistan in the long term and provide desperately needed jobs. The opposition parties need to do their job and make sure corruption and waste does not happen.
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Nov 07, 2014 01:39pm
Lets see if thats real investment or just MoUs as we always see...
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Nov 07, 2014 01:42pm
@Bilal
No, only one things are infinite, your stubbornness to continue supporting NS and his goons....
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Nov 07, 2014 02:19pm
Good decision but be careful.
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Nov 07, 2014 02:20pm
No permanent friends,no permanent enemies in politics.
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Nov 07, 2014 02:20pm
Pakistanis next boss - china
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Nov 07, 2014 02:31pm
It is perhaps another family outing to China with family members quickly wrapping up deals, price settled pushing Pakistan into further debts. The change from military to civil rules in Pakistan has been a painful experience with main stream political parties being family owned and run by business tycoons with billions safely invested in UK or Dubai. The people should rise to the occasion to support those who seek change to create a real balance of power, the individuals elected to such high office to remain focused and dedicated to their jobs avoiding any conflict of interest. It should be Pakistan first.
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Nov 07, 2014 02:48pm
@Vipsy Dont worry China will get some real estate in lieu of the investments free from all pakistanis.
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Nov 07, 2014 02:56pm
No investment, it is a loan. And at a very high percentage if compared to other international loans. Plus only Chinese companies will be allowed to work on all projects funded by this loan. So it is like China will be providing money to Pakistan to give it to Chinese companies, and then Pakistan will pay back China!!!
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Nov 07, 2014 03:01pm
Great News!!!
All we need to build solid infrastructure and provide basic necessities. Please stop making promises; show progress & results.
Electric & Water in rural areas & affordable.
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Nov 07, 2014 03:03pm
35 Billion paise is more accurate......Why would anyone invest in a nation that so volatile with every passing day I'd be surprised even Pakistanis invest in Pakistan....
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Nov 07, 2014 03:21pm
Very Good News. Nawaz Sharif is doing a good job indeed it shall be bringing prosperity to Pakistan and its good opportunity to alleviate poverty from Pakistani soil. Keep it up Nawaz Sharif
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Nov 07, 2014 03:33pm
No mention about the projects. Are these projects are for poor, rich or for the nation, no clarification.
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Nov 07, 2014 03:50pm
Anxiously waiting for speedy work on economic corridor.
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Nov 07, 2014 03:52pm
@Jahangir Khan You smart .. Nothing is free. Multinationals or local companies - all need to make profit. Nothing is . Their is no free lunch - Company comes to Pakistan do investment - create jobs - pay taxes - even minimum is better than nothing - contribute to local economy - provide goods and services - of course if they make profit - whats wrong . Same applies to Chinese investor also - Zhong paid hundreds of million for 4G license. do you expect not to make any profit and just give away . if so than one lives in Alice in Wonderland . NS is doing a good job on economic front - power plants- coal fired - hydro - nuclear- wind- solar - loans from ADB - IMF - WORLD BANK. Saudi billion - all good policies - don't listen to IK - man is not fit to run anything except levels rants against each and every one .
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Nov 07, 2014 03:58pm
That is one optimistic figure? Anyways,if money DOES flow in,that would mean a lot of more jobs in Pakistan!
And,hopefully, a lot of less mischief on the streets?
Good luck!!!
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Nov 07, 2014 03:59pm
@Vipsy What do you know about China or their investment. Chinese economy in all sectors larger than combine EU. Shanghai and Shenzhen make your New Delhi put to shame. Go take a visit - see if Los Angles resembles Shenzhen or Shanghai - Chinese know how to do business - that's why their GDP so high - their economy so large . MAN-IN-CHINA
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Nov 07, 2014 04:12pm
another money minting voyage for your PM.
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Nov 07, 2014 04:12pm
China-Pak economic corridor is great vision.. Imagine an Asia without borders... like Europe without borders. It would benefit Pak a lot as this would open route for trillion dollars trade through pakistan. This is really cheap to give bad name to such marvelous projects in name linking it to higher interest rates, Pak sold china bla bla bla.. Come out of this mentallity and open eyes, its grt thing that would happen in this region... It has huge potential to develop business in this region but it is very very challenging given mountainous, snowy terrain in North of Pakistan...
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Nov 07, 2014 04:13pm
$35 billion... time for celebration. where are the sweets!
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Nov 07, 2014 04:15pm
I wonder whether Chinese President visited India to Give $50 Billion loan?...Every company, I mean every company earns profit and takes away whether is is foreign or local....The point is that they bring investment plus jobs, good services etc. etc. Taking IK concept then no company shoudl invest as this is loan and Govt. should not take any loan...Illogical IK come with other solutions...Or if frustration has led u to believe what Mubashir and Moeed say is right then my friend you are on wrong foot...You accept aid from USA on what basis..that is also loan...The fact is that in KPK noting is doen except for aid programmes and no investor is attrcated....Beacuse IK think that it is loan to KPK?
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Nov 07, 2014 04:20pm
I opened up small chemical plant, although it is very small but I get 15% profit and all I take home. However, normal people also benefit of jobs, gods and services, Govt. gets Taxes, IESCO gets bill and with my business many suppliers are attached who sell me raw material and earn good income...Am I giving loans to Pakistan in shape of Investment and taking away 15%..IK please be serious, This cannot be your statement that investment is loan!! or is it? If it is your statement than sorry state for every one..A leader should also be well versed in Finance aspects..
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Nov 07, 2014 04:52pm
Begging bowl went to China.
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Nov 07, 2014 04:54pm
What a joke. He went for his own commission and benefits. I feel sorry for us all.
To be honest we deserve this. We don't have the guts to speak up and come on streets to get rid of this corrupt government. All we can do is right few comments and sleep in our cozy homes
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Nov 07, 2014 05:04pm
@Amarnath Don't count the chickens before they hatch?:):)
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Nov 07, 2014 05:58pm
I didnt find this news in any of the chinese media. They are concentration on G20 summit in australia.....
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Nov 07, 2014 06:03pm
What is the worth of all MOU’s signed between China and Pakistan? How many have been implemented?
MOU’s is meaningless without a contract to execute something. Really wonder why politicians go through this useless MOU shenanigans.
ONLY TO MISLEAD PEOPLE.
Some news organization should do an expose on these Meme of Understanding
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Nov 07, 2014 06:08pm
Well done Nawaz Sharif , we are proud of you
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Nov 07, 2014 06:10pm
@Usman
RO Imran RO
RO modi RO
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Nov 07, 2014 06:11pm
@yasir
Definitely Imran is crying for every step towards prosperity of Pakistan
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Nov 07, 2014 06:13pm
@zhussain
Ik whole projects and finance run on begging zakat and Fitra
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Nov 07, 2014 06:15pm
@Bilal
You are right . We are watching how stupid is Imran
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Nov 07, 2014 06:19pm
It spears all Indians and PTI workers have same type of pain due to Chinese investment
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Nov 07, 2014 06:57pm
35bn dollars goes to the Sharif account.
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Nov 07, 2014 09:35pm
Imagine your a Prime Minister and your corruption and election rigging had been exposed infront of the whole nation through media etc and while then how embarassing would it feel when you go to another country to beg for money and for help, what kind of man would show his face who's reputation is all been ruined and destroyed and still has no shame in him and still does more corruption and rigging in every institutions of Pakistan, you call that thing Nawaz Sharif.
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Nov 08, 2014 01:25am
@Zahid Sadly, Pakistan has never benefited from anything that PMLN has ever done. Why should we believe him now?
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Nov 08, 2014 01:30am
I have only one question. Why would anyone invest any money in Pakistan?. If Pakistan is such investment friendly country, why doesn't he ask his son to bring all the family money back to Pakistan?.
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Nov 08, 2014 06:56am
Hello, I believe that that an investigation containing 3 person should be carried out by private personnelle to enlighten us more into this query.
i'm not sure where the money is going however; a brilliant inauguration by PM NAWAZ.
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