China will sign accord for metro train tomorrow

Lahore: Punjab Chief Minister Muhammad Shahbaz Sharif has said that the existing warmth in the economic cooperation of China with Pakistan reflects the confidence of China in Pakistani leadership.

Talking to the local media in Shanghai today, the Chief Minister said that China is well aware of the fact that such a leadership is in power in Pakistan as considers every penny of public money as a sacred trust. He said that the projects started with the cooperation of China in Punjab will be executed at the same speed at which metro bus, Nandipur power project, solar park and other projects of national importance are being completed.

He said that speed, transparency and quality are the hallmark of development strategy of the government and no compromise will be made in this regard.

Replying to a question, the Chief Minister said that he has emphasized upon the heads of Chinese companies working in energy sector in Punjab that there should not be any shortage in the provision of funds so that these projects could be completed within the timeframe. Similarly, he said, he has asked these companies to give necessary authority to their offices in Pakistan so that delay in decisions should not affect the pace of the project. Muhammad Shahbaz Sharif said that these companies have agreed with this stance and he is confident that the ongoing development projects with the cooperation of China will be completed before the timeframe. Citing the example of Nandipur power project, the Chief Minister said that the project which kept pending for three years due to indifference of former government will be completed six months before the stipulated period under the new schedule which will save Pakistan billions of rupees.

The Chief Minister further said that the authorities of Exim Bank have agreed to give required concession in the rate of profit and terms of payment for which he is grateful to the Chinese government. He said that apart from Pak-China friendship, this gesture also shows the confidence of Chinese authorities in Punjab government with regard to its track record in energy and other sectors during the last one year.

Meanwhile, the signing ceremony of the first Metro Train Project in Pakistan will be held in Shanghai, China, on May 22.