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Shahbaz Sharif meet senior officials of China Development Bank

CM PUNJABLahore: Punjab Chief Minister, Muhammad Shahbaz Sharif has said that completion of Gaddani and Gwadar projects with the cooperation of China is the top priority of the Prime Minister Muhammad Nawaz Sharif. He said that these projects will help in overcoming energy crisis in Pakistan besides increasing exports and creating a large number of job opportunities.

He was addressing various meetings and functions in Beijing, today. The Chief Minister said that development package of 32 billion dollars is a proof of the fact that Chinese leaders have full confidence in the present Pakistani leadership. He said that China knows that such a leadership is in power in Pakistan which is committed to progress and development of the country and considers national exchequer as a sacred trust.

The Chief Minister met the senior officials of China Development Bank which is the biggest bank in the sector of international cooperation and ICBC which is the biggest commercial bank of China. He said that Pakistan is facing shortage of 6000 MW of electricity and its demand will further increase in future. He said that this situation provides a good opportunity to foreign investors for investment in Pakistan. He said that foreign investors will not only have state guarantee regarding the sale of electricity but there will also be no restriction on taking their profit back to their country.

Shahbaz Sharif further said that Chinese investors should also invest in textile and garment sectors as the cost of production will be low due to cheap labour. He said that Pakistan’s export potential has considerably increased due to granting of GSP Plus status to the country. He also invited Chinese banks to open their branches in Pakistan and assured that all out facilities would be provided to them for this purpose.

Chairman ICBC said that Chinese investors want to make investment in Pakistan and Chinese financial institutions are ready to give them facility of loan. Federal Minister for Planning & Development Ahsan Iqbal said that Pakistan government is providing all out protection to Chinese investors and experts and situation in Pakistan is much better than shown in foreign media and TV channels. He said that Pakistan will give preference to such foreign investment under which transfer of technology is compulsory.

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