Punjab government signs an agreement with Exim Bank of China

Lahore: An agreement was signed between the government and Exim Bank of China at Chief Minister’s Office, here today for the provision of funds for Lahore Orange Line Metro Train Project.

Punjab Chief Minister Muhammad Shehbaz Sharif was chief guest at the ceremony. Under the agreement, Exim Bank of China will provide funds of 162 billion rupees on soft terms for Lahore Orange Line Metro Train Project. Federal Secretary Economic Affairs Tariq Bajwa and Vice President of Exim Bank Sun Ping signed the documents.

Federal Minister for Finance Ishaq Dar, Federal Minister Planning & Development Ahsan Iqbal, Charge d affaires of Chinese Embassy in Pakistan, Pakistani Ambassador in China Khalid Masood, Provincial Minister Finance Ayesha Ghaus Pasha, Provincial Ministers, Assembly Members, Chief Secretary, prominent industrialists, bankers, intellectuals, columnists and senior officers of federal and provincial institutions were present on the occasion.

Chief Minister Muhammad Shahbaz Sharif said that today is an important juncture in the friendship between China and Pakistan as an agreement is being signed for the provision of funds for orange line metro train project. He said that the splendid project of Lahore Orange Line Metro Train is an invaluable gift of Chinese government and leadership for 18 crore people of Pakistan.

He said that this project reflects the full confidence of Chinese leadership in Prime Minister Muhammad Nawaz Sharif and the love for people of Pakistan. He said that today is a historic day towards provision of a most modern transport system in Pakistan and metro train project is a unique and the first project in the history of Pakistan. He said that this project is a milestone in Pak-China friendship.

He said that Pakistan and China are great friends and in the glorious examples of the friendship between the two countries will be written in golden letters. However, he said that the process of close economic cooperation between the two countries started two and a half years ago is spreading to every corner of Pakistan.

He said that by extending help to Pakistan in the hour of need, China has proved to be reliable and sincere friend of Pakistan and credit for taking Pak-China friendship to new heights goes to the leadership of Prime Minister Muhammad Nawaz Sharif.

The Chief Minister said that the project of orange line metro train is an important step towards modern transport system and work has been started expeditiously on the civil works of this unique project in the history of the country.

Shahbaz Sharif congratulated the people of Pakistan over signing of agreements for the provision of funds for the historic project of Lahore Orange Line Metro Train and said that after completion of this project, 2.5 lakh people will travel by metro train daily and their number will gradually increase. He said that this project is not of Lahore or Punjab but of the whole country.

He said that under the agreement, the project will be completed during 27 months but every effort will be made for its completion within 24 months and the verbal commitment has been made with Chinese authorities in this regard. He further said that Lahore Orange Line Metro Train Project is also important in this respect that it will result in transfer of Chinese technology to Pakistan and creation of lakhs of job opportunities.

He said that the agreements signed between governments in the Chinese history, Lahore Orange Line Metro Train Project is the first project the civil works of which has been given to the other government. He said that this extraordinary and historic step of China is unprecedented.

The Chief Minister said that due to this decision of China, the civil works of the project are being carried out by Punjab government which reflects the confidence of China in the abilities and capabilities of Pakistanis construction companies.

He said that due to giving the task of civil works to Punjab government by China it will promote the experiences of Punjab in the execution of such projects as well as its confidence with regard to mega projects in construction sector. He said that by utilizing its technology, such projects could be implemented in other cities.

Shahbaz Sharif further said that China Railway and NORINCO can subcontract electrical and mechanical works to Pakistani companies.

He said that Pak-China friendship based on mutual love and brotherhood and this friendship is spreading towards every corner of the country. He said that China is such a sincere friend of Pakistan which wants progress and prosperity of the country.

The Chief Minister said that China has extended all out cooperation for the progress of Pakistan. He said that the journey of friendship and cooperation between the two countries is continuing successfully and is reaching every part of Pakistan.

Shahbaz Sharif said that under China Pakistan Economic Corridor, China is making an investment of 46 billion dollars in Pakistan and out of which, 36 billion dollars are being spent only on energy projects. He said that people of Pakistan can never forget the close friendship and economic cooperation of China.

He said that Chinese President Xi Jinping and Chinese Prime Minister Li Keqiang have given a number of gifts to Pakistan out of which CPEC project and Lahore Orange Line Metro Train Project are unique.

He said that these projects will always be remembered as living examples of China-Pakistan friendship. He said that metro train project will play an important role in the promotion of Pak-China ties.

He said that Chinese President and Prime Minister have stated that Lahore Orange Line Metro Train Project is a gift of China to Prime Minister Muhammad Nawaz Sharif and people of Pakistan and Lahore and Pakistan deeply appreciate this glorious vision of Chinese leadership.

Shahbaz Sharif said that with regard to the cost, Lahore Orange Line Metro Train Project is the biggest project of Punjab and China has provided funds for the project on extremely soft terms.

He said that the agreement of Lahore Orange Line Metro Train Project was signed in May last year and the reason for delay in the project is the sit-ins of last year. He said it is a fact that sit-ins and protest politics of six months last year undermined not only this historic project but also caused delay other development projects. He said had the precious time of the nation not been wasted due to the sit-ins of six months, the civil works of this projects would have been completed to a great extent.

The Chief Minister appealed to media to point out flaws and shortcoming of the government, however, we should also reprimand such elements as have caused delay in Lahore Orange Line Metro Train and other development projects due to useless sit-ins. He said that time wasted will have to be made up through honesty and hard work and the development projects will have to be completed timely for coming up to the expectations of the masses.

Shahbaz Sharif said that Lahore Orange Line Metro Train Project is the result of the tireless efforts and hard work of Prime Minister Muhammad Nawaz Sharif, his team as well as China Railway and NORINCO Company.

He also thanked federal government for its cooperation and the entire team of Punjab government, Chief Secretary, Managing Director Punjab Metro Bus Authority, Kh. Ahmed Hasaan, Provincial Ministers, Pakistani Ambassador to China Khalid Masood, Chinese Embassy in Pakistan and all concerned authorities for their cooperation.

He also expressed gratitude to Vice President Exim Bank for the provision of funds for this project. He said that lot of time of the nation has been wasted during the last 68 years, however, it will be made up through acting upon the golden principles of honesty, commitment and hard work.

Federal Minister for Finance Ishaq Dar while addressing the ceremony said that today is a historic day for the people of Pakistan especially Punjab as under the leadership of Chief Minister Punjab Muhammad Shahbaz Sharif an agreement for the funding of a big project for infrastructure is being signed. He congratulated Chief Minister Muhammad Shehbaz Sharif. He said that Shahbaz Sharif is known as man of action in China and he has proved this fact.

He said that Shahbaz Sharif is extending full cooperation in the efforts being made under the leadership of Prime Minister for resolving energy crisis. He said that the cooperation of Punjab government led by Chief Minister Muhammad Shahbaz Sharif with regard to development projects is proving very helpful in achieving the targets of development.

He said that collective efforts are needed for achieving the goal of a prosperous and an independent Pakistan. Ishaq Dar further said that the steps taken under the leadership of Prime Minister Muhammad Nawaz Sharif for strengthening of the national economy are yielding positive results and international institutions are also acknowledging this fact.

Federal Minister for Planning & Development Ahsan Iqbal said that the agreement for funding of Lahore Orange Line Metro Train Project has been signed between Exim Bank of China and the government and this mega project of infrastructure will help in the promotion of economy.

He said that under the leadership of Shahbaz Sharif, Punjab government is completing big projects of infrastructure development. He said that the glorious project of metro bus service has been completed. He said that billions of rupees of the nation have been saved in development projects. He said that the economy of the country is improving and the confidence of foreign investors in Pakistan is enhancing.

He said that China Pakistan Economic Corridor is a national project and all provinces will benefit from it and a new era of progress and prosperity will usher in.

Ahsan Iqbal further said that projects like orange line will also be seen in all big cities of Pakistan in future as such projects are aimed at achieving the destiny of the nation. Vice President of Exim Bank of China said that Chief Minister Muhammad Shahbaz Sharif visited China a number of times for giving a practical shape to this project and he also came to Exim Bank.

He said that the governments of Pakistan and China have jointly furthered this project and will work together in future as well so that this project could be given a practical shape as soon as possible. He said that no effort will be spared for the completion of the project within stipulated period.

Charge d affaires of Chinese Embassy in Islamabad said that it is honor for him to participate in the ceremony.

He also congratulated Chief Minister Shahbaz Sharif and people of Punjab on signing of the project. He said that Lahore is famous for its hospitality, Chief Minister Shahbaz Sharif and Lahore Orange Line Metro Train. He said that Shehbaz Sharif is known in China as man of action and he has proved this fact.

He said that Lahore Orange Line Metro Train Project is of vital importance with regard to provision of speedy and safe transport facilities to the masses. He said that this project is also very significant with regard to Pak-China friendship and economic cooperation.

Managing Director Mass Transit Authority Sibtain Fazal Haleem threw light on the important features of Lahore Orange Line Metro Train Project.