KARACHI, Jan 16: The phase I of the Gwadar Deep Sea Port had been completed successfully, while the work on Phase II would start soon.

This was stated by Chinese Consul General, Sun Chunye in a meeting with members of the Korangi Association of Trade and Industry (KATI) on January 15.

He said that China had provided financial support of $200 million for the twin projects of Gwadar Port and Mekran Coastal Highway. During the visit of President General Pervez Musharraf to China in 2001, seven agreements were signed, including Saindak Project, for which, China had provided soft loan to Pakistan. The work on the project is speedily underway.

Mr Chunye further informed the gathering that in May 2002, Pakistan and China signed a Memorandum of Understanding (MoU) under which, China had provided $600 million for construction of two power plants, each of 300-mw at Thar Coal Field, Sindh. Work on Karachi Port was also in progress with the help of China.

He said China was extending cooperation to Pakistan in various mega projects and carrying out quality work both by Chinese and Pakistani engineers on the project.

The Consul General said that during the visit of Prime Minister of Pakistan, Mir Zafarullah Khan Jamali to China, a Memorandum of Understanding was signed for construction of 300-mw Power Plant at Chashma, at which, work was going on. China was also extending help to Pakistan in the field of science and technology.

On visa, he said, at present, two visa officers were working at China Consulate and the business community would not face any difficulty in getting visa for visiting China on business trip. Visas were issued on the recommendation of KCCI.

Recommendation of KATI would also be given due consideration for issuance of visa but for the purpose, Economic and Commercial Office at China Consulate should be approached.

Patron-in-Chief of KATI, SM Muneer said China Consulate should issue multiple visa to bona fide businessmen, valid for at least two years and added that there should be more and frequent exchange of trade delegations for promoting bilateral trade. He said Pakistan imports raw material for leather processing from China whereas the import of machinery from China has increased in recent past.

Earlier, Chairman KATI, Mian Zahid Hussain said that there are ample opportunities for foreign investors to invest in Korangi Industrial Area where there was no law and order problem whatsoever. He said that investment in Pakistan was no more a risky job and various Pak-China mega projects bore testimony to the fact.

He said Korakoram Highway was a landmark of Pakistan-China friendship, and that there was scope for increasing exports of Pakistani rice, wheat, vegetables, fruits, tobacco and cotton, to China as the China government had reduced its tariff structure, encouraging the import of food items from Pakistan to meet their growing requirements. The trade balance was not in favour of Pakistan which should be narrowed to maximum possible extent.