CPEC to bring huge investment in next stage

Special Assistant to the Prime Minister on CPEC Affairs Khalid Mansoor has said that most of the Chinese firms expressed their deep interest in investing in Pakistan during Prime Minister Imran Khan’s recent two-day historic visit to Beijing.
Khalid Mansoor said in a press conference that the second phase of CPEC involved multi-billion dollar investments in the country.
“PM Imran Khan held around 20 back-to-back meetings with representatives of around 500 companies to help bring investment into the country,” he said.
He said that 65% population of Pakistan was under 40 years of age and Pakistan had a skilled labour force.
The SAPM said the CPEC Authority provided the one-window facility to the Chinese investors adding that if their issues still remain unresolved, then PM house was there to address the issues.
He said that under Phase-2, Chinese companies would support in setting up Steel and Metal Recycling Plant in Gwadar within three years, which would produce metals worth $4.5 billion for exports besides creating 40000 jobs.
He said that Chinese companies would also help develop agriculture of the country on modern lines to enhance per acre yield and seed quality.
He said a Chinese company would invest in building LNG storage at Karachi port whereas a factory for value-added products would be set up on Lahore-Kasur road in the textile sector.
Mansoor said that another Chinese company Royal Guru was interested to invest $50 million in the auto sector of the country.
Chinese companies want to invest $200 million in making medical devices whereas an investment of $2 billion by the Chinese companies would be made for laying optical fibre.
He said both the countries China and Pakistan had agreed to move forward with the second phase of CPEC.
“During the Phase-I of CPEC, out of $53 billion investments of $25 billion were materialised whereas $28 billion were under consideration, he said, adding that “fresh steps were being taken for the rehabilitation of industries and industrial development in Pakistan.”
The SAPM informed journalists that ECC had approved refunds worth Rs100 billion to CPEC IPPs, out of which Rs50 billion had already been paid while the remaining Rs50 billion would be paid soon. – Courtesy APP