High-powered Chinese delegation expresses interest in energy project

Islamabad: China on Monday expressed renewed interest in increasing bilateral economic ties and vowed to resolve Pakistan’s energy crisis by investing the ailing sector. The pledge was made in a meeting between officials of Policy Research Office, Kunmíng, the capital and largest city of Yunnan province in Southwest China and President FPCCI Zubair Ahmed Malik.

Speaking at the occasion, Director of Policy Research Office Mr Yuan Peiwen, having expertise in solar and wind power, said that they have come to Pakistan to explore possibilities of economic cooperation and to have direct interaction with the business community aimed at enhancing understanding as well as bilateral trade .

He said that two-way trade has picked up to 12 billion dollars in last five years with 17.6 per cent hike in 2012 while Pakistan’s exports registered 48.2 per cent growth in one year. He hoped that target of 15 billion dollar of bilateral trade would be met by 2015.

The biggest increase in Pakistan’s exports to China in 2012 were textiles, vegetable products, ores, mineral products, base metals, marble products etc., said Peiwen adding that Pakistani business community will be provided every possible facility in China.

Speaking on the occasion, President FPCCI Zubair Ahmed Malik said that China is now Pakistan’s biggest trading partner.

He lauded Chinese government and business community is expansion of Pakistani business community in their country saying that opportunities being provided will go a long way in cementing ties.

China is on way to become the largest energy consuming country of the world in which Pakistan is fully cooperating through proposed energy corridor, said Malik.

He said Chinese economic policies are based on partnership and political equality which is highly encouraging.

Lauding the recent pledges by Chinese companies to invest heavily in Pakistan’s energy sector, the leader of the business community said that maximum resources should be utilized for controlling energy crisis for the development of the country.

He said that government is attaching top priority to resolving energy problem and all out encouragement is being extended to local and foreign investors.

China is a trusted friend of Pakistan and has played a commendable role in its development.

Pakistan is a poor country which needs to generate power at minimum cost to cope with the energy problem which has compromised growth, said Zubair Ahmed Malik.

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