On the invitation of Prime Minister Muhammad Shahbaz Sharif, Chinese companies have expressed their deep interest in investing in Pakistan and have agreed to invest in other major projects including drinking water supply in Karachi.
In a statement issued by the Prime Minister’s Office, it is said that Prime Minister Shahbaz Sharif invited Chinese companies to invest in the government’s 10,000 megawatt solar and other renewable energy projects in Pakistan.
The Prime Minister arrived in China last night on a 2-day visit. To reduce the import bill, he approved the Sixty Energy Project in September.
A statement issued by the Prime Minister’s Office said that leading Chinese companies have shown keen interest in investing in solar energy, water and other basic infrastructure projects in Pakistan.
The Prime Minister also lamented the obstacles faced by Chinese companies in the past regarding payments for imported coal.
He assured Chinese businessmen and investors that the current government has resolved many of the problems they have been facing since taking office in April.
The statement said that arrears of 160 billion rupees have been cleared and payment of 50 billion rupees has been made yesterday.
Furthermore, the Prime Minister said that the State Bank of Pakistan has established a revolving fund with “seed money” of Rs 50 billion on the instructions of Finance Minister Ishaq Dar.