Pakistan-China sign accord for projects worth $20 bn

[Edevelop]

ISLAMABAD: Pakistan and China on Thursday signed an agreement of “early harvest projects” in the economic corridor under which Beijing will provide more than $20 billion for projects to generate over 20,000MW of electricity and other crucial infrastructure projects. Ahsan Iqbal, Federal Minister for Planning, Development and Reform, signed the agreement with his Chinese counterpart, Vice Chairman NDRC, Zhang Xiaoqiang, in the presence of presidents of China and Pakistan in Beijing.


The projects will include the Karakoram Highway up to Islamabad, Karachi-Lahore Motorway, new Gwadar Airport and economic zones.When contacted, Ahsan Iqbal, who is currently visiting Beijing, said China had agreed to finance projects in Pakistan in energy, transport, rail and road links. The minister did not give any specific figure of financing from the Chinese side for executing projects in Pakistan, saying that the multi-billion dollars projects would be financed to execute the energy projects for producing 20,093MW electricity in public and private sectors.When asked about the Chinese demand for relaxing the Public Procurement Regulatory Authority (PPRA) rules, the minister said no such specific thing came under discussion during the Joint Ministerial Commission (JMC) meeting here in Beijing. However, he said, they would surely like to see the Chinese companies to do business with Chinese financing.


Pakistan and China had agreed to establish an economic corridor by establishing rail, road and sea linkages between two countries and beyond the Central Asian Republics (CARs). Through this corridor, different economic zones will be established to give an impetus to sluggish economic activities that will pave the way for achieving higher trajectory of growth in the years to come.


Pakistan-China sign accord for projects worth $20 bn - thenews.com.pk

 

[Nishan_101]

ISLAMABAD: Pakistan and China on Thursday signed an agreement of “early harvest projects” in the economic corridor under which Beijing will provide more than $20 billion for projects to generate over 20,000MW of electricity and other crucial infrastructure projects. Ahsan Iqbal, Federal Minister for Planning, Development and Reform, signed the agreement with his Chinese counterpart, Vice Chairman NDRC, Zhang Xiaoqiang, in the presence of presidents of China and Pakistan in Beijing.


The projects will include the Karakoram Highway up to Islamabad, Karachi-Lahore Motorway, new Gwadar Airport and economic zones.When contacted, Ahsan Iqbal, who is currently visiting Beijing, said China had agreed to finance projects in Pakistan in energy, transport, rail and road links. The minister did not give any specific figure of financing from the Chinese side for executing projects in Pakistan, saying that the multi-billion dollars projects would be financed to execute the energy projects for producing 20,093MW electricity in public and private sectors.When asked about the Chinese demand for relaxing the Public Procurement Regulatory Authority (PPRA) rules, the minister said no such specific thing came under discussion during the Joint Ministerial Commission (JMC) meeting here in Beijing. However, he said, they would surely like to see the Chinese companies to do business with Chinese financing.


Pakistan and China had agreed to establish an economic corridor by establishing rail, road and sea linkages between two countries and beyond the Central Asian Republics (CARs). Through this corridor, different economic zones will be established to give an impetus to sluggish economic activities that will pave the way for achieving higher trajectory of growth in the years to come.


Pakistan-China sign accord for projects worth $20 bn - thenews.com.pk

GoP should work on getting a set up of Gwadar Port Authority on its own and make it an operational port. The money which they gain should be utilize to pay back Chinese on their investment of $1 Billion in Gwadar, which might be in hand within 3-4 months of its operations

 

[Edevelop]

GoP should work on getting a set up of Gwadar Port Authority on its own and make it an operational port. The money which they gain should be utilize to pay back Chinese on their investment of $1 Billion in Gwadar, which might be in hand within 3-4 months of its operations

I think we need to get this security stuff handled first, especially as we get ready for an operation against Taliban. In 2011, Chinese cancelled to invest $19 Billion in Sind and Balochistan. I hope this doesn't happen again.

 

[Bilal.]

I think we need to get this security stuff handled first, especially as we get ready for an operation against Taliban. In 2011, Chinese cancelled to invest $19 Billion in Sind and Balochistan. I hope this doesn't happen again.

In my honst opinion the trade corridor should be Railway based. Establish a dry port up in the north and run frieght trains from Gawadar to The Dry Port, from there onwards use expanded KKH to Kashgar and IF possible in the future extend the frieght lines right uptill Kashgar.

 

[That Guy]

I think we need to get this security stuff handled first, especially as we get ready for an operation against Taliban. In 2011, Chinese cancelled to invest $19 Billion in Sind and Balochistan. I hope this doesn't happen again.

Agreed. Pakistan needs to at the very least minimize terrorism as much as possible and as quickly as possible. Pakistan has a golden opportunity here to become an economic hub of the region, especially with China's help. If Pakistan screws this up, God help the nation.

 

[Nishan_101]

I think we need to get this security stuff handled first, especially as we get ready for an operation against Taliban. In 2011, Chinese cancelled to invest $19 Billion in Sind and Balochistan. I hope this doesn't happen again.

Pakistan should try its best to welcome investment from Middle East to make Oil and Gas rigs on the Arabian sea as there were some well Resources of it which was discovered by Candian company in Musharaf's era.

I think its high time GoP should do a JV with Middle East investor to invest in Oil and Gas On&Off Shore as quickly as possible.

 

[airmarshal]

We definitely need investment in all these sectors. I hope the actual money comes through and its not just a paper work.

 

[Cheetah786]

Pakistan should try its best to welcome investment from Middle East to make Oil and Gas rigs on the Arabian sea as there were some well Resources of it which was discovered by Candian company in Musharaf's era.

I think its high time GoP should do a JV with Middle East investor to invest in Oil and Gas On&Off Shore as quickly as possible.

I guess some people never learn.Because of Middle eastern investors our country is on the brink of bankruptcy and filled with terrorist you want more.

 

[Peaceful Civilian]

I think we need to get this security stuff handled first, especially as we get ready for an operation against Taliban. In 2011, Chinese cancelled to invest $19 Billion in Sind and Balochistan. I hope this doesn't happen again.

B.C, first you open YouTube.. Government wasted 4 billion on software just to filter the sites and VPNs... And government is expecting 5 billion dollars from 3g and 4g license .... My foot..... Nobody will invest until government know it's priorities .

 

[Edevelop]

B.C,

 

[Nishan_101]

I guess some people never learn.Because of Middle eastern investors our country is on the brink of bankruptcy and filled with terrorist you want more.

Sir that is not the case! As Terrorism grew in the absence of work. Also instead of buying oil and gas from other countries in cheap why don't we utilize our own which might be wasting up from Arabian Sea and on Land. @Senior member must reply in positive.

More over I would say Iran and Turkmenistan Gas should be sold to India and China respectively via Pakistan.

Also, about 2 years or so; there were some great findings regarding Oil, Gas, Coal and other Mineral being found in NWFB/KPK and especially in Punjab. I can't understand when they are going to utilized it?

Pakistan, therefore should welcome investment from Muslim countries there.

 

[HariPrasad]

What is the update on news that China was to invest 30Bn USD in Pakistan?

Amending laws to allow Chinese investment – The Express Tribune

 

[Pakistanisage]

I think we need to get this security stuff handled first, especially as we get ready for an operation against Taliban. In 2011, Chinese cancelled to invest $19 Billion in Sind and Balochistan. I hope this doesn't happen again.

I suspect that project was cancelled by the Chinese Company because Zardari wanted a hefty kickback and the company refused to do business under such pressure.

 

[Chinese-Dragon]

I suspect that project was cancelled by the Chinese Company because Zardari wanted a hefty kickback and the company refused to do business under such pressure.

The outbound investment from China is going to reach massive proportions very soon.

This is because we are currently transitioning from an investment-fueled growth model, to a consumption-fueled growth model. Due to the saturation of the Chinese domestic economy, the money is now being funneled into the outside world.

There is a huge amount of money up for grabs right now.

Pakistan is our ally, and therefore an ideal destination for a lot of this investment. But Chinese companies get nervous if the investment conditions are not good, they all want big returns on their money and reasonable risks.

From the news I think Pakistan is very willing to improve the investment conditions for Chinese companies specifically, this will go a long way towards Pakistan seizing a big chunk of Chinese outbound investment over the next decade.

 

[CrazyPaki]

The outbound investment from China is going to reach massive proportions very soon.

This is because we are currently transitioning from an investment-fueled growth model, to a consumption-fueled growth model. Due to the saturation of the Chinese domestic economy, the money is now being funneled into the outside world.

There is a huge amount of money up for grabs right now.

Pakistan is our ally, and therefore an ideal destination for a lot of this investment. But Chinese companies get nervous if the investment conditions are not good, they all want big returns on their money and reasonable risks.

From the news I think Pakistan is very willing to improve the investment conditions for Chinese companies specifically, this will go a long way towards Pakistan seizing a big chunk of Chinese outbound investment over the next decade.

with IK in KPK this will be the biggest province to have a business friendly environment with near 0 corruption.