Pak-China friendship has turned into useful economic contacts: CM Punjab

Lahore: Punjab Chief Minister Muhammad Shahbaz Sharif has said that Pak-China friendship has turned into useful economic contacts and energy projects of 20 thousand megawatts will be set up in the country including Punjab under Pak-China Economic Corridor.

He said that journey towards light and elimination of darkness has started and within a few years, agriculture will develop, economy will strengthen while industrial sector will flourish and Pakistan will be able to stand on its own feet.

The Chief Minister expressed these views at the signing ceremony of memorandums of understanding between a prominent Chinese group Shandong Ruyi and different industrial groups of Punjab at Chief Minister’s Office, here today.

Chairman Shandong Ruyi group Yafu Qiu, senior officials of Huang Shang Dong, China, Provincial Ministers, Chief Secretary, prominent industrialists and notable from different walks of life were present on the occasion.

The Chief Minister said that the bond of friendship between Pakistan and China are strengthening with the passage of time and China has supported Pakistan in every hour of need. He said that the confidence reposed by Chinese government, leadership and people in Prime Minister Muhammad Nawaz Sharif cannot be described in words.

He said that Pak-China friendship is indeed higher than Himalayas, sweeter than honey, deeper than oceans and stronger than steel. He said that the project of Ruyi Masood Textile Park in Faisalabad is a very important step towards strengthening of Pak-China friendship and according to an estimate, an investment of two hundred billion rupees will be made in the textile park.

The Chief Minister said that foundation stone of 1320 megawatt coal power plant will be laid tomorrow in Sahiwal with the cooperation of China and it will start production of electricity in December 2016. He said that the Chinese group is making total investment in the coal power plant. Similarly, he said, Nandipur power project will be inaugurated on May 31 due to which 100 megawatts more electricity will be available and it is a matter of great pleasure for the people of Pakistan who are thankful to Chinese leadership and companies.

He said that Pakistan Muslim League-N government led by Prime Minister Muhammad Nawaz Sharif is working speedily on energy projects and its efforts to remove darkness from the country are yielding positive results. He said that investment of billions of dollars by Chinese investors in Pakistan is a big gift for which Pakistani nation is grateful to Chinese investors.

He said that Chinese investors have taken a lead by making investment in development projects in Pakistan which is a proof of their deep love and affection for the Pakistani nation. He said it is high time for Pakistani investors to come forward and make maximum investment in the interest of the nation. He said that Pakistan and China are bound together in strong ties of friendship and their relations cannot be described in words. He said that due to the agreements signed between industrial groups of Pakistan and the Chinese group today, economic and trade cooperation between the two countries will further improve.

Chairman Shandong Ruyi group, Yafu Qiu while speaking on the occasion said that Muhammad Shahbaz Sharif is a very dynamic and practical person and his deep love and sincerity has motivated Chinese investors to invest in Pakistan. He said that his group will try its best to complete energy projects even before the timeframe in accordance with the vision of Chief Minister Punjab.

Earlier, four memorandums of understanding were signed between Shandong Ruyi group and different industrial groups of the Punjab. Chief Minister Punjab Muhammad Shahbaz Sharif was the chief guest on the occasion. On behalf of Shandong Ruyi Group, Masood Textile Mills and JK Spinning Mills, Chairman Shandong Ruyi Technology Group Limited Yafu Qiu, Chief Executive Officer Masood Textile Mills, Shahid Nazir and Director JK Spinning Mills Faiq Javed signed the document.

Under a joint venture, Shandong Ruyi Group and JK Spinning Mills will set up a fabric printing unit of 200 million meter annually at Ruyi Masood Industrial Park.  With regard to MoU between Shandong Ruyi Group, Masood Textile Mills and Crescent Sugar Mills, Chairman Shandong Ruyi Technology Group Ltd. Yafu Qiu, Chief Executive Officer Masood Textile Mills Shahid Nazir and Naveed Gulzar of Crescent Sugar Mills signed the document. Crescent Sugar Mills as a joint venture with Chinese group will establish weaving unit of 20000 power looms at Ruyi Masood Industrial Park. Shandong Ruyi Science and Technology Group Company Ltd and Industrial and Commercial Bank of China Ltd, Karachi Branch also signed an MoU. Under the agreement, both the institutions under Pak-China economic development strategy will promote mutual cooperation in the projects of textile and related infrastructure and a project development coordination group will be formed. Shandong Ruyi Group and Pak-China Investment Company Ltd. also signed an MoU under which speedy measures will be taken regarding the implementation of the projects under Pak-China Economic Corridor.