Prime Minster for Chinese investment in energy sector

Islamabad, March 17, 2014 (PPI-OT): Prime Minister Muhammad Nawaz Sharif has said that Pakistan will provide necessary safeguards to foreign investments and urged international companies to invest in Pakistan for best returns. He said this while meeting a delegation led by the President of State Grid Corporation of China (SGCC) Mr. Jia Zhiqiang that called on the PM at PM House Islamabad today. The meeting was also attended by Minister for Water and Power Khawaja Muhammad Asif, Chairman Privatization Mr. Muhammad Zubair, Chairman Board of Investment Mr. Mifta Ismail and senior officers.

While welcoming the delegation, PM said that “Chinese investments will provide boost to the economy of Pakistan and China is willing to invest US $ 35 billion in various infrastructure projects within 3 to 5 years period”.

PM further said that investments in Pakistan will yield high dividends to foreign investors as the business-friendly environment of Pakistan offers great opportunities. Moreover, Government of Pakistan will provide sovereign guarantees to the investors in order to safeguard their investment, said the PM.

President SGCC apprised the PM that SGCC is managing around 70% of power transmission lines in China. He further elaborated that there are only 6% line losses in the transmission system of China owing to better control mechanism, utilizing innovative technology and best-management practices.

During the meeting, SGCC expressed its interest in the energy sector projects particularly power transmission lines.

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