Pakistan-China sign $1 billion accord

[PakShaheen79]

ISLAMABAD: Pakistan and China have signed a $1 billion accord to construct 12 dams in Pakistan in all the four provinces.

A Chinese import/export bank would furnish $700 million loans, while the remaining $300 million would be taken care of by the Planning Commission (PC).

Sources say WAPDA had prepared a feasibility report, according to which 650,000 acres of land would be brought under irrigation. An MOU has been signed in this regard between WAPDA and Axiom Bank (import/export) of China.

When contacted, Chairman WAPDA Shakeel Durrani said the Axiom Bank would provide $700 million, while the remaining $300 would be furnished by Government of Pakistan.

The work on the construction of the 12 dams is said to commence during the current year.—Online

DAWN.COM | Pakistan | Pakistan-China sign $1 billion accord

 

[Hyde]

all news about our economy is just Loans.......... when our Prime Minister goes to foreign visit he wants aid/soft loans, when somebody visit Pakistan our President urge for a soft loans/aid and when nobody visit each other, we contact foreign banks to give us soft loans so we can do something............ all i am hearing this days is Loans and Aids, there no real progress in Pakistan these days

 

[Adios Amigo]

another good news, which is a proof of our ever lasting relationship with our ever reliable chinese friends.

 

[Patriot]

all news about our economy is just Loans.......... when our Prime Minister goes to foreign visit he wants aid/soft loans, when somebody visit Pakistan our President urge for a soft loans/aid and when nobody visit each other, we contact foreign banks to give us soft loans so we can do something............ all i am hearing this days is Loans and Aids, there no real progress in Pakistan these days

Don't worry bro.If these dams are built then electricity crisis will finish and our economy will flourish again..It's all good.We need to get the damn crisis fixed first man..economy won't grow without proper energy.