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KP, Chinese firms sign 11 agreements

Updated Apr 18, 2017 07:27am
Beijing: KP Local Government Secretary Syed Jamal Uddin Shah and a Chinese official are signing five memoranda of understanding for development projects on Monday.—APP
Beijing: KP Local Government Secretary Syed Jamal Uddin Shah and a Chinese official are signing five memoranda of understanding for development projects on Monday.—APP

BEIJING: The Khyber Pakhtunkhwa government on Monday signed 11 memoranda of understanding (MoUs) with Chinese companies for development projects in the province under the China-Pakistan Economic Corridor (CPEC).

According to a press release, MoUs were signed for five projects costing up to Rs60 billion. These projects are related to CPEC Tower, construction of a new bus terminal at Chamkani, Ring Road missing link, Health City at Regi Model Town, and Commercial and Residential Reconstruction Centre.

Local Government Secretary Jamal Shah signed the MoUs on behalf of the KP government. Chief Minister Pervez Khattak, Minister for Local Government Inayatullah and Peshawar Development Authority (PDA) Director General Salim Watto were also present on the occasion.

These projects will be jointly executed by PDA and Chinese companies, the press release said.

The construction of the Ring Road missing link will cost up to Rs12bn while that of the new general bus stand at Chamkani will cost Rs10bn. The construction of CPEC Tower will be carried out at Rs5bn while that of Health City at Regi Model Township is estimated to cost up to Rs22bn.

The initial estimate for the construction cost of Commercial and Residential Reconstruction Centre is around Rs11bn.

PC-1s of these projects are complete, it said. The Chinese authorities will soon visit Pakistan to finalise the execution process, said Mr Watto.

Other development projects are related to information technology, special economic zones, power plants, oil refinery, infrastructure and e-commerce.

Speaking at the MoU signing ceremony, Mr Khattak invited Chinese companies to take advantage of the investment-friendly environment in KP.

“We have set the stage to begin the journey of industrialisation in the province. We need the support of our iron brothers to put the province on the path of development and economic growth,” he said.

Appreciating the One Belt, One Road Initiative, he said the CPEC is its flagship component and stressed that business, cultural and social cooperation between Pakistan and China should be further enhanced.

Mr Khattak said a strong security force comprising 4,500 personnel has been established for the protection of foreign workforce, including Chinese nationals.

While emphasising the importance of the CPEC, China-Pakistan Friendship Association President Sha Zhu Kang said the success of One Belt, One Road initiative is linked with the CPEC, which he termed the pilot project of the grand scheme.

He said the proposed corridor stretching from Kashgar to Gwadar will bring about economic and social progress.

He said Chinese companies are already working in KP and providing job opportunities to a large number of locals.

Ambassador Khalid said that around 86 projects, including those in energy, agriculture and infrastructure sectors, will be presented for investment and cooperation. He said the KP chief minister’s visit to China, second in the last four months, underscores the importance of the CPEC and Sino-Pak relations.

The ambassador said all political parties in Pakistan are on the same page as far as Sino-Pak relations are concerned.

He said the CPEC is showing steady progress. Now the Gwadar port is operational and energy and infrastructure projects are being completed in time, he added.

Published in Dawn, April 18th, 2017


Comments (13) Closed

Punit
Apr 18, 2017 07:33am

only Chinese firm is investing in Pakistan?

bakhtar Ali
Apr 18, 2017 08:54am

Great! What a good iron brother Pakistan has got!

DK PAMNANI - INDIA
Apr 18, 2017 09:24am

Every project under CPEC. No other country can participate.

riz
Apr 18, 2017 09:45am

good work,,

khaksar
Apr 18, 2017 10:21am

Hurry up boy election is very close. Don't miss the oportunity.

Saif Zulfiqar
Apr 18, 2017 11:20am

@Punit, But nobody is investing in Modi's India.

Dabeer Razvi
Apr 18, 2017 12:21pm

Good. We must speed up development.No more loosing time on petty politics.

israr
Apr 18, 2017 01:42pm

any investment any mou is good i am actually waiting for agreements and that too none of these , i know two british firms have agreed one in mining and one in solar power plant and that is great to know its not just china i know swedish firm is starting an aeronautical project soon

Usman786
Apr 18, 2017 02:42pm

You should make table to list projects and amount

Dr. Salaria, Aamir Ahmad
Apr 18, 2017 03:47pm

What a great achievement?

ANIL SAHU
Apr 18, 2017 03:52pm

@Saif Zulfiqar India replaces China as top FDI destination. so brush up your knowledge before commenting. CPEC budget is peanuts comparing to major projects of india. delhi mumbai corridor project itself has a budget of $100billion.

N.Sid
Apr 18, 2017 04:40pm

@ANIL SAHU How easy it is for Indian media to create fake delusion about highest FDI in India, China received 260 billion USD as FDI last year compared to less than 60 billion USD for India...Google search can make it clear.

I comes across all sort of shewed figures in India media which later proves to be wrong...

ERNST HAMINGWAY
Apr 18, 2017 04:57pm

PTIs: Any investment in health, education or human skills? This is what you blame PML for???

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