China offers to soften terms for investment in Punjab
BEIJING: Chinese Communist Party office-bearers, government officials and banking heads have assured Punjab Chief Minister Muhammad Shahbaz Sharif of their full cooperation in various nation-building sectors.
In their meetings with the chief minister here on Tuesday, the Chinese leadership also expressed its willingness to investment in joint ventures on Pakistan’s own terms, says a government handout.
They said that progress of Pakistan and the people of Punjab were very dear to China. Chairman Export and Import Bank of China, Li Rougu, talking to the visiting delegation, said there was no legal hindrance for Chinese financial institutions in direct investment in any province of Pakistan and his bank was ready for softening its terms for investment in infrastructure, energy and other sectors in Punjab.
He also assured cooperation of his bank for Rawalpindi Ring Road, southern section of Lahore Ring Road and construction of small dams for power generation in Punjab.
The chief minister, speaking on this occasion, said China had added a new chapter to Pak-China friendship by softening its terms for investment in Punjab. He said that China had helped Pakistan at every critical juncture of its national life but unfortunately Pakistan had not fully benefited from Chinese friendship and cooperation otherwise it would have stood on its own feet and would have not been dependent on the will of others in evolving its policies.
He said China was the only country which had helped Pakistan regardless of any specific terms and conditions. He said in the backdrop of the existing food security problems in the world, Chinese cooperation with Pakistan in livestock, fruit and other crops especially wheat would be in its own interest.
The chief minister also met Chairman China North Industry Corporation, Zhao Gang for the launching of mass transit project in the provincial metropolis.
Shahbaz said urban rail project for resolving the transport problems of the people of Punjab was his dream and he was fortunate that it was being translated into reality with the cooperation of brotherly neighbouring country of China. The chairman of the corporation announced that his company would take no profit on Lahore Mass Transit Project.
Later, addressing a function, arranged by Chinese Institute of Foreign Affairs, Muhammad Shahbaz Sharif said the lofty status achieved by China in the world under the policies of Communist Party had falsified the common and popular notions of liberal democracy and the clash of civilizations and it was undeniable fact that the 21st century and the future belonged to China.
The chief minister spent an extremely busy day in Beijing Tuesday. He travelled standing with the common Chinese for 45 minutes in the underground train of China and got information from the Chinese workers and students regarding the subway system and allied facilities.
A Chinese student requested him for a photograph. Shahbaz asked the student if he knew him. He replied in the affirmative and said, “You are leader of the Punjab and the future prime minister of Pakistan”.
Speaking at a meeting with the Chinese officials and investors, the chief minister said whenever the proclamation on the part of Chinese investors was made that they would not get profit on their investment in Punjab or they would reinvest the money earned from there instead of taking the same back home, he felt as if someone was enthralling him with his melodious voice. On the announcement made by China North Industry Corporation Chairman Zhao Gang that no profit would be taken on the investment on Lahore Mass Transit Project, the chief minister stood up and saluted him.
The chief minister said urban rail project for resolving the transport problem of the people of Punjab was his dream and he was fortunate that it was being translated into reality with the cooperation of China.
In his presidential address, Cai Jiabao, chief of the Chinese People’s Institute of Foreign Affairs’ said it was his responsibility to extend hospitality to foreign delegations and it was for the third time that he was playing host to Shahbaz Sharif and his delegation and the schedule of which went without shopping and recreational programmes. He said this might not be pleasing for the members of the delegation but this gesture was seen with applause in China.
Talking to Chairman Export and Import Bank of China Li Rougu, Shahbaz Sharif said China was the only country which had helped Pakistan regardless of any specific terms and conditions. He said in the backdrop of the existing food security problems in the world, Chinese cooperation with Pakistan in livestock, fruit and other crops especially wheat would be in its own interest.
Source:
China offers to soften terms for investment in Punjab
