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Khyber Pakhtunkhwa government on Friday signed agreements with Chinese investment companies for development schemes worth $20 billion.
"Today we started a new era of progress and prosperity in the province," said Khyber Pakhtunkhwa Chief Minister Pervez Khattak while speaking at the signing ceremony.
The chief minister added that apart from Chinese companies, other countries are being invited to invest in the province.
"The China-Pakistan Economic Corridor (CPEC) passes through Khyber Pakhtunkhwa and it will usher in a new era of prosperity," added Khattak.
Khattak also said the work on the projects will be started soon and provincial institutions have been instructed in this regard.
The signing ceremony included the higher management of Heritage Resource International, China Railway Corporation and other Chinese companies.
The agreements signed today include a $1.5bn oil refinery, uplift and irrigation schemes worth $2bn and $7bn worth of hydro-electric schemes which will start production of electricity by 2020.
Construction of international airports in Swabi and Dera Ismail Khan, in accordance with Civil Aviation directives, are also included in the agreements signed today. A motorway from Chitral to Dera Ismail Khan will also be built at a cost of $2bn.
Smart and safe city projects worth $2bn are also included in the agreements signed by the provincial government.
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Comments (63) Closed
Mar 04, 2017 12:47am
That is good news K.P keep going.
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Mar 04, 2017 12:58am
So many Chinese people in Pakistan and its so good to see that. Trade is good to do. Long live Pak-Sino friendship. Love you China, what a beautiful historic nation. Qilai! :)
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Mar 04, 2017 12:59am
Wow what a great news for KPK. Fantastic!
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Mar 04, 2017 01:00am
Imran next PM of pakistan
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Mar 04, 2017 01:01am
Now this is a real progress. Keep it up KP
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Mar 04, 2017 01:06am
Awesome....countries struggle to get even 1bn investment...but here we are signing 20bn worth projects...superb work by administration...IK for pm 2018.
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Mar 04, 2017 01:10am
Just one concern...is it loan or investment??
If investment then Pakistan is gonna be next big thing on this planet.
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Mar 04, 2017 01:09am
Awesome upgrade for KPK, CPEC now worth around $75 billion.
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Mar 04, 2017 01:18am
KP has taken a step like a central govt. This shows it capable of having even bigger economic plans once they make a national government in coming elections.
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Mar 04, 2017 01:23am
Way to go!
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Mar 04, 2017 01:24am
keep up the good work !
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Mar 04, 2017 01:34am
Good job KPK, I normally am critical of PTI but credit must be given when it is due.
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Mar 04, 2017 01:35am
Is this investment or loans.....
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Mar 04, 2017 01:38am
This is great news. I hope and pray that all this peoples money goes to the projects not in any ones packet and is invested keeping ordinary people in mind. It will be nice to show how it effects ordinary people of KPK.
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Mar 04, 2017 01:39am
Well done boys.. KPK is in good hands..
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Mar 04, 2017 01:48am
Isn't this start of era of "progress and prosperity" coming too late? The elections are up again Mr Minister.
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Mar 04, 2017 02:00am
People of Karahi are ready to move KPK for better job opportunities
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Mar 04, 2017 02:20am
Ain't CM Khattak was saying earlier that CPEC isn't passing from KPK? Why this change of heart now?
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Mar 04, 2017 02:26am
Chinese investment in KPK is good but bad if in Punjab, strange...
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Mar 04, 2017 02:42am
Good new! Hopefully all projects will benefit the people. Hearing good feedback from alot of sources about changes in KP : Police, Education, Healthcare, Billion Tree Tsunami (VOA link below), Local governments and now these infrastructures projects..... in about four years of PTI rule.
http://www.voanews.com/a/pakistani-province-grows-seven-hundred-fifty-million-trees/3746994.html
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Mar 04, 2017 02:43am
Good step forward. Better late then never!
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Mar 04, 2017 03:08am
What is the cost? Is this a gift from China?
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Mar 04, 2017 03:30am
What ever you do make sure to have majority of control in the projects at least after completion. Do not outsource jobs to Chinese companies as ot would only increase your local unemployment rate. Strengthen your municipal corporations so that more people can be employed locally. Make sure to have environmentalists on board for these projects as well so that we rehabilitate any loss of forested areas with new saplings and there's least amount of stress on the environment. Do it intelligently rather than taking projects for the sake of money. Try to finance some part of the project through a local bank as this will help keep the money with in the economy. CPEC is great but if done wrong we would lose more than gaining anything and so far I think we are on loosing side.
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Mar 04, 2017 03:47am
Ye cheez mere azeez.:-) despite of maximum hurdles in funds from the center and so on... keep going and stay focused PTI actions speak louder than words... we need to build up all country rather than merely a city....!
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Mar 04, 2017 04:07am
The type of investments the federal and provincial governments are getting from China, will ruin us at the end as none of these will generate export. The politicians are today taking China as a santa claus but soon when the profits of their investments start flowing out of Pakistan, only then will we realize the mess we have created.
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Mar 04, 2017 04:19am
These seems more like MOUs and not the agreements. The actual work will only start after the agreements are signed and financial close has been achieved
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Mar 04, 2017 04:45am
Long live Pak China friendship. Hope this starts new era of prosperity for entire region of South Asia..peace out
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Mar 04, 2017 04:54am
Good job kpk govt. Federal govt signed deals for coal projects that are obviously not environmentally nd electricity ll b costly as well as while kpk govt signed deals for hydroelectric projects. Very good. Just make sure not to go default with too much loans. If it's investment and not loans then it's even better.
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Mar 04, 2017 05:17am
copy of PMLN policies and still criticism.Anyway good for country .Copy good things from them .Learn
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Mar 04, 2017 05:23am
Lets hope these developmental projects would create job opportunities for locals as well. Pakistan has manpower and natural resources, effective planning and good manager needed urgently. Investors from around the world should come, invest in projects, make money for themselves as well as for people of Pakistan. Pakistan is a land of opportunity, good place for investors from around the world.
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Mar 04, 2017 05:31am
Yes this is good for Pakistan. Sign as many deals you wish with China. Don't sign any deals with US or western countries. They always give us small amount of aid showing that they are our friends and fire on our shoulder to fight with their enemy. China is our friend. Ther will not do any such thing. Give fruit of development to ou friend and not to enimies of Pakistan.
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Mar 04, 2017 06:17am
Would like to look at fine print of the agreement.
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Mar 04, 2017 06:15am
The should consider SUBWAY (Underground/skyline) for Peshawar, Mardan and other congested corridors to alleviate traffic and help environment.
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Mar 04, 2017 06:27am
Imran Khan and Khattak... now you are talking. Show to our provinces that you are making a difference. KPK should be a role model for other provinces.
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Mar 04, 2017 06:34am
Great news for the people as this will bring "progress and prosperity". The region had suffered wars and destruction since the Soviet Union invaded Afghanistan in 1979. This development gives hope to the people to live in peace for better future of their children. The people of Pakistan thank China for its sincere friendship. We would welcome USA, Europe and Middle Eastern countries to join in this development, which is vital for regional stability and world peace.
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Mar 04, 2017 06:34am
Excellent NEWS . Pakistan is moving up Fast.
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Mar 04, 2017 06:40am
Superb plan for KPK ; expected as a result of CPEC.
Let's rebuild a strong Pakistan
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Mar 04, 2017 07:23am
Good news.
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Mar 04, 2017 07:24am
@Friend how would one know?
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Mar 04, 2017 07:24am
Please please please invest in science & tech universities which will uplift the future generations.
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Mar 04, 2017 07:36am
Good news. If Pak progresses well, it will be good for the region and the world.
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Mar 04, 2017 07:58am
Good start I hope.
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Mar 04, 2017 08:04am
Congratulations, but why did it take so long.
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Mar 04, 2017 08:05am
Imran Khan for 2018 period.
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Mar 04, 2017 08:15am
Please politician, can we have some news about something actually developed , produced jobs, deliver ed services to people of pakistan that we Pakistanis can witness with our own eyes. I am tired of all the news about signing agreements aur inauguration ceremonies etc etc.... please show us some asset being built. Thank you
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Mar 04, 2017 08:33am
Congratulations to Government of KPK, Cinese and Pakistani Governments and the people of both the countries for this historic deal. Chines investments in KPK province(full of natural resources) will bring a new era of economic prosperity and hence there will be no issue of terrorism in the region. It will open up trade routes for Chines goods to Pakistan and beyond through the shortest route.Good job and keep it up.
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Mar 04, 2017 08:57am
Is there anything that is being made by Pakistan? ..more bills?
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Mar 04, 2017 09:15am
Congratulation to people of Pakistan. However before jumping to celebration make it clear whether it is loan or investment. If investment , then its brilliant. If loan , IK & his team should disclose all the details of the deal . After all transparency is the most vital issue for proper function of Govt & to avoid another Panama gate.
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Mar 04, 2017 09:25am
Agreement, agreement and agreement - very little seen in the ground.
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Mar 04, 2017 09:35am
Way to go KPK BEST OF LUCK IN FUTURE
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Mar 04, 2017 09:40am
@Punjab No one is saying Chinese investment is good for KPK and bad for Punjab. What is good for KPK or for Punjab or for any province is good for all of Pakistan since all the provinces and people are linked. I am glad that KPK government is taking a page out of Shahbaz Sharif's book and getting Chinese investment to help build up the potential of KPK. This is productive competition and hopefully Sind and Baluchistan will do the same since everyone wants every region of the country to grow and prosper.
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Mar 04, 2017 09:45am
Investment is needed in education sector.It has the lowest literacy rate,Awareness program should be exercised to encourage people to send their kids to schools not to garage.Or else citizens would end up doing only Labour job.And it's not a gift by any kind.Its loan.So open more and more schools and standard universities.Or else always depend on agriculture and on others foreign country.
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Mar 04, 2017 10:03am
@KHan we are evolving more into a more financial malpractices hub.
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Mar 04, 2017 10:13am
And so balanced. If KP government were following Punjab rules of business, USD 19 billion out of 20 must be planned for Peshawar only.
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Mar 04, 2017 10:30am
Great initiative by KPK govt, what are the plans of sindh govt? Or they will just rely on political statements and talk against CPEC?
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Mar 04, 2017 10:49am
CPEC will eventually end up with a Investment of $100 to $200 Billion (with a B). And that's what I call the Big "B"
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Mar 04, 2017 10:51am
as ever I am always suspect of these "signings" . we will see when there is work on ground ..
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Mar 04, 2017 11:15am
If the injustice done to people here is rectifed, local Govt. must take steps to bring in people who have left before. Make yr Province Strong because God is with you. HE has bestowed upon you a tremendous wealth of Natural resources.Please insure, the money goes no where but used only for the projects outlined.
For God's sake, STOP filling up your pockets, look at the poor and marginalised people. God will reward you for your good actions. Integiry, hard work and honest guidelines will bring a new life for the people. God Bless You ALL..............
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Mar 04, 2017 01:40pm
This is we want, an investment not an aid.
Aid has destroyed the country and forced people to go abroad to work shine their career whereas investment will bring the confidence, image and so much jobs.
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Mar 04, 2017 01:41pm
20bn us dollars investment (not MOUs) and all in revenue generating projects that too all in KPK wow, what is going on people of Pakistan that is EXCELLENT MASHAALLAH this will take us forward, I wanted FOW to complete oil refinery and that i still think will be the case as chinese companies will hire them this will be the biggest every investment i wish kpk govt is a party in that investment US 1.2bn means about .6bn on oil refinery and rest on oil and gas distribution and products industry which means alot of jobs for locals and this should be another clause i am hoping to see in the contract.
The sawabi and DIK international airports well thats ok no immediate requirement but will be a requirement in 2-3 years flights to china and middle east, the chitral to dik motorway wow that's what we all want i wish to see chitral to sawabi motorway then using the swabi to naushera motorway get down to dik form naushehra ... brilliant just brilliant
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Mar 04, 2017 05:15pm
@Ahmad yes balanced is the right word meaning its spread all around kp and kept the requirement in mind rather than peshawar railways its circular railways that will connect mardan swabi peshawar charsada and nawshehra and that is massive to add if we can lay a railway track southwards that means oil and gas can be taken up to swabi and further
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Mar 04, 2017 06:03pm
No body knows what the real agreements are and what we have to pay inconsequence of these agreements. These agreements should be made public.
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Mar 04, 2017 11:08pm
Safe City projects are overrated. The technology is costly and high maintenance. KPK should have taken cue from Lahore safe City project already failing. KPK is lucky to have this $20billion investment. It must not go in to the servitude of corruption like other provinces have. Make KPK great and put others to shame.
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