• Tuesday, January 28, 2020

China to invest $50bn in Pakistan by 2017

Discussion in 'Pakistan Economy' started by cb4, Sep 13, 2014.

  1. cb4

    cb4 ELITE MEMBER

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    ISLAMABAD: China intends to invest as many as $50 billion by 2017 in various sectors of Pakistan’s economy, particularly in energy sector to help the country overcome power crisis and help sustainable economic growth, President Pak-China Joint Chamber of Commerce and Industry Shah Faisal Afridi said.
    “China has planned to replicate the model of Shanghai Free Trade Zone (SFTZ) by investing $50 billion into a number of projects including coal, solar and wind energy till 2017 under Early Harvest Programme,” Faisal said.
    These projects would enable Gawadar to create a nexus between Pakistan, Iran, China and Central Asian States that would ultimately generate billions of dollars in revenues along with huge job opportunities in the region.
    Afridi said that SFTZ is a perfect model to be implemented at Gwadar, asserting, the SFTZ was first used as a testing ground for a number of economic sectors.
    The zone, he said, incorporated numerous relaxations in different sectors, under the FTZ’s new capital registration system, foreign investors were no longer required to contribute 15 percent capital within three months and full capital within two years of the establishment of a foreign invested enterprise (FIE).
    Meanwhile, official sources said that in addition to invest in power projects, China was also interested in already working in various projects of motorways and railways.
    On energy front, Pakistan has been already working to generate about 10400 megawatt electricity with the help of Chinese investment and several projects were already underway to overcome energy crisis.
    Beijing has designated three banks including Exim Bank that will provide loans to Chinese companies for investment in power, railway and transport sectors in Pakistan.
    Federal government has given advertisements for investment in Gaddani power projects and a competitive bidding process will be initiated for upcoming power plants.
    The successful bidders would have to show project feasibility reports to Chinese banks to qualify for the loans, sources said adding Pakistan government would not give any sovereign guarantees to Chinese investors who would install power plants in public-private partnership mode.
    China was quite cognizant on the energy problems of Pakistan and that is why it has agreed to invest $34 billion in the energy sector of the country, which is highest Chinese investment in any country.
    The Chinese investment would include several projects in Sindh province including transmission of electricity from Thar to Jamshoro after setting up Mitiari transmission line.
    In addition imported coal would be utilized in power plants in coastal areas whereas local coal would be utilized for running power plants in Punjab province.
    Sources said that vast coal reserves were available in Thar, however due to some quality issues coal would be imported for independent power producers.
    For this purpose coal would be imported from South Africa, New Zealand and Indonesia.

    China to invest $50bn in uplift projects by 2017
     
    Last edited: Sep 13, 2014
  2. Viper0011.

    Viper0011. SENIOR MEMBER

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    @cb4 - Will you share that other thread with all universities, hospitals, infrastructure and other project's list and pictures of the progress with @TankMan please? He wants to see what are some of the big projects we keep referring to and what's the progress being made. Thank you.

    @TankMan this is one of the new threads started just now.
     
  3. cb4

    cb4 ELITE MEMBER

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    This thread ?

    Development in Pakistan | Page 331
     
  4. Viper0011.

    Viper0011. SENIOR MEMBER

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    There was this one, and then there was one that showed all Universities, Colleges and all across Punjab and in a few other places. I saw it a month or so ago. Had a lot of focus on development in Punjab and in Baluchistan
     
  5. cb4

    cb4 ELITE MEMBER

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    Last edited: Sep 13, 2014
  6. Viper0011.

    Viper0011. SENIOR MEMBER

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  7. Viper0011.

    Viper0011. SENIOR MEMBER

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    Beijing has designated three banks including Exim Bank that will provide loans to Chinese companies for investment in power, railway and transport sectors in Pakistan.

    China was quite cognizant on the energy problems of Pakistan and that is why it has agreed to invest $34 billion in the energy sector of the country, which is highest Chinese investment in any country.
    China to invest $50bn in uplift projects by 2017[/quote]

    Do you know if the Exim bank will open up branches across Pakistan to support the Chinese business infrastructure as goods and services will be moving through Gawader to China all the way? That would create so many more jobs outside of the investments planned.

    What energy projects are a part of the 34 Billion investment? These are huge deals!
     
  8. WishLivePak

    WishLivePak SENIOR MEMBER

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    I don't have much time on my hands. Mention the norwegian and tell him these are investments, not loans.
     
  9. Viper0011.

    Viper0011. SENIOR MEMBER

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  10. FaujHistorian

    FaujHistorian ELITE MEMBER

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    If China spends $100 billion in India, it is investment

    If China spends $50 billion in Pakistan, it is a loan.

    As per PTIan logic.

    Spin doctoring at its best.
     
    Last edited: Sep 13, 2014
  11. cb4

    cb4 ELITE MEMBER

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    China is investing $100 Billion in India (7x larger than Pakistan) over 5 years

    In Pakistan they are investing $50 Billion by 2017 (In 3 years)
     
  12. kbd-raaf

    kbd-raaf SENIOR MEMBER

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    Does Pakistan genuinely have the capacity to absorb such high capital infusions in such a short period of time. I sincerely doubt that India does.
     
  13. Yeti

    Yeti BANNED

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    China intends to invest as many as $50 billion by 2017 in various sectors of Pakistan’s economy,

    The person who wrote this article needs to learn how to write English, it is invest as much not as many! stupid writer! but let's see if this comes true.

    China was also interested in already working in various projects of motorways and railways.

    Again this makes no sense? what type of low grade writer is this? I believe none of this shite I rather trust Dawn and the express tribune.

    No wonder the writer did not even put his name down lol shows me a kid wrote this shite
     
    Last edited: Sep 13, 2014
  14. Viper0011.

    Viper0011. SENIOR MEMBER

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    The short answer is yes, if people like IK and Mullah's can let the democratic system run, Pakistan can absorb 250 Billion investment in three years. It can bring out top notch energy, educational, healthcare and transportation infrastructure linking China to the Ocean (and then the Central Russian States as a Phase II). Plus it can expand its Textile industry tremendously with the already approved GSP plus designation.

    Pakistanis need to learn that the democracy is what will actually take their country forward (and the proof if just around the corner in about 3 years, there will be 10 million jobs created with these projects at all levels. management, hi-tech, engineering, low tech, small businesses and all).
     
  15. WishLivePak

    WishLivePak SENIOR MEMBER

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    Pakistan has much to build, more than India.

    We not need to worry about toilets, but we have space stuff, home production of jets and maintainence, faster trains, tracks, gawader. So much potential. Pakistan has many people and so it can eat as much money as given, even with 0 corruption (doubtful)