ISLAMABAD, Pakistan, Oct. 13 (UPI) — Pakistan is seeking Chinese investment in its energy sector to ameliorate the country’s periodic power shortages.
The International News Network reported Tuesday that Pakistani Prime Minister Syed Yousuf Raza Gilani, making a four-day state visit to China, intends to solicit Chinese investment in Pakistan’s power infrastructure as the country is in the midst of the worst power crisis in its history, which is badly affecting business activities. Gilani will point out that Chinese investment, by helping the country achieve self-sufficiency in power generation in turn would boost economic activities, providing Chinese businessmen with new trade and economic opportunities.
Islamabad Chamber of Commerce & Industry President Zahid Maqbool noted that China should open bank branches in Pakistan and reciprocate in assisting Pakistani banks in beginning operations in China to promote trade and economic relations, adding that Pakistan has established a specific Industrial Zone for Chinese investors in Lahore, and China should establish similar zones in China for Pakistani entrepreneurs.
ISLAMABAD, Pakistan, Oct. 6 (UPI) — Pakistan and China have announced the Pak-China Joint Power Corp.
The new joint venture is aimed at attracting investments for nuclear, coal and hydroelectric power in Pakistan, Pakistani newspaper the Daily Times reported.
The Pak-China Joint Power Corp. will help develop technology for new power projects through ministry-level meetings, leaders agreed. Pakistani President Asif Ali Zardari and his Chinese counterpart, Hu Jintao, will meet in China soon to finalize the agreement.
The corporation will seek Chinese investments for three of Pakistan’s projects: the Basha Dam project, the Thar Coal project and phases 3 and 4 of the Chashma nuclear power plant.
Funds also will be sought for the Munda Dam, Kohala Dam and the Neelum- Jhelum Hydropower Project.
All of the projects are part of Pakistan’s Vision 2030 plan, which includes generating 8,000 megawatts of power from nuclear plants
