Chairman of Huaneng Group Cao Peixi calls on PM Nawaz Sharif

Lahore : Prime Minister Muhammad Nawaz Sharif Tuesday said Pakistan’s economic outlook had improved significantly over the last four years, which was globally acknowledged.

The prime minister expressed these views while meeting to Chairman of Huaneng Group Cao Peixi, who along with a delegation of company’s officials called on him here at the PM House, a press release issued by the Press Information Department said.

He said economic growth was well above 5 percent while the foreign exchange reserves at US $ 24 billion were at the highest in the country’s history.

Chinese Ambassador to Pakistan Sun Weidong was also present during the meeting.

Welcoming the visiting delegation to Pakistan, the prime minister informed them that Pakistan’s up-gradation to Emerging Market by MSCI reflects the growing recognition of Pakistan’s economic progress and potential.

Pakistan’s Stock Exchange was declared the best performing Stock Market in Asia, which was attracting significant foreign investments, he added.

The prime minister appreciated Cao Peixi for his exemplary leadership and efforts to help Pakistan overcome electricity shortages by completing the Sahiwal Coal Power Project in a record period of 22 months, ahead of the agreed commissioning schedule.

 He felicitated Cao Peixi on being chosen for the conferment of  Hilal-i-Pakistan  award by the president for his services and role in regard to completion of the project.

The award will be formally bestowed in the investiture ceremony to be held at Aiwan-i-Sadr.

The prime minister hoped that the fast track development of Sahiwal Coal Power Project will encourage Chinese investors to seek further avenues of investment in Pakistan.

He invited Huaneng Group, China for further investments in the power sector of Pakistan including transmission lines and local coal-based power projects.

Cao Peixi thanked the prime minister for choosing his name for the prestigious Hilal-i-Pakistan award in recognition of his services.

The meeting was also attended by Muhammad Chief Minister Punjab Shahbaz Sharif and senior officials of the federal government and provincial government of the Punjab.

Meanwhile ;Prime Minister Muhammad Nawaz Sharif on Tuesday said China’s National Energy Administration to expand and diversify its investment in the power sector of Pakistan by joining process of setting up of transmission lines and local coal-generation projects.

In a meeting with Chairman National Energy Administration (NEA) Nur Bekri here, the Prime Minister said both the countries were working for the prosperity of the people of the region through joint economic and development efforts.

Acknowledging the support of NEA, the Prime Minister said that completion of the energy projects on fast track basis will help the Government of Pakistan in overcoming the energy crisis.

The Prime Ministers said Pakistan was fully committed to the timely and effective implementation of all projects under China Pakistan Economic Corridor (CPEC). “Pakistan shares the Chinese vision of regional and global economic integration through strengthening connectivity, and that is the reason Pakistan is among the early partners in the One Belt One Road (OBOR) initiative,” the Prime Minister said.

Nawaz Sharif said exemplary relations between Pakistan and China were based on mutual respect and trust and that Pakistan wished to explore all existing opportunities to further cement these relations.

He extended gratitude to the Chinese ministries and institutions for their support in making CPEC a reality and an example for the world to follow.

The Prime Minister emphasized that the government was committed to the efforts of improved regional connectivity and was extending its full cooperation for the early execution of the projects in the most effective manner.

      He felicitated the Chairman NEA on being chosen for the conferment of Hilal-i-Pakistan award by the President Islamic Republic of Pakistan for his meritorious services in the energy sector of Pakistan.

The award will be formally bestowed in the investiture ceremony to be held at Aiwan-i-Sadr.

The Prime Minister said completion of Sahiwal Coal-based Power Plant in record time would greatly help the government of Pakistan in resolving the power shortages from the country.

The Chairman NEA said that National Energy Administration of China was rigorously executing energy projects in Pakistan.

Appreciating the development vision of the present government in Pakistan, the Chairman said NEA China was committed to complete the on-going energy projects in Pakistan within stipulated time.

The meeting was also attended by Minister for Water and Power Khawaja Muhammad Asif, Chief Minister Punjab Muhammad Shahbaz Sharif and other senior officials.

The Chinese delegation comprised Huang Xuenong, DG Department of Electric Power; Liu Deshun, DG Department of Oil & Gas; Gun Jun, DG Department of International Cooperation; Wu Ruipeng, Director Department of General Affairs and Suo Yunpeng, Deputy Director Department of International Cooperation, NEA.

 Chinese Ambassador to Pakistan Sun Weidong was also present during the meeting.