"China is extending co-operation to Pakistan government in various mega projects including Gwadar deep-sea port, Phase-I of which has successfully been completed and the work of Phase-II would start soon. Commendable quality work is being done, both by Chinese and Pakistani engineers on the project".
This was stated by Sun Chunye, Consul-General of People's Republic of China in Karachi, while addressing members of Korangi Association of Trade and Industry (Kati). He said that China has provided financial support of 200 million dollars for the twin projects of Gwadar Port and Makran Coastal Highway.
During the visit of President Pervez Musharraf to China in 2001, seven agreements were signed, including Saindak, for which China has provided loan to Pakistan on soft terms. The work on the project is speedily underway.
Chunye told the gathering that in May, 2002, Pakistan and China signed a Memorandum of Understanding (MoU) under which China has provided 600-million dollars for construction of two power plants, each of 300-MW, at Thar Coal Field, Sindh. Work on Karachi Port is also in progress with the assistance of China.
He said that during the visit of Prime Minister Zafarullah Khan Jamali to China, a Memorandum of Understanding was signed for construction of 300-MW power plant at Chashma, at which work is going on. China is also extending help to Pakistan in the field of science and technology.
He said that at present two Visa Officers are working at Chinese Consulate and the business community would not face any difficulty in getting visa for visiting China on business trip. On the recommendation of KCCI, visas are issued to businessmen. Recommendation of Kati would also be given due consideration for issuance of visa, but for this purpose, Economic & Commercial Office at Chinese Consulate should be approached.
The Consul-General lauded the efforts of industrialists of KIA for playing an important role in the promotion of economic growth of Pakistan.
S M Muneer said Pak-China friendship is everlasting. China is a trusted friend of Pakistan and there is vast scope of increasing bilateral trade between the two friendly countries.
Chinese Consulate should issue multiple visas to bona fide businessmen, valid for at least two years, he said and added that there should be more and frequent exchanges of trade delegations for promoting bilateral trade.
He said that Pakistan imports raw material for leather processing from China whereas the import of machinery from China has increased in recent past.
Earlier, Chairman of Kati, Zahid Hussain, welcoming the guests, gave a complete background of Korangi Industrial Area and said that KIA is the hub of industrial activities being at a very close distance to and from the airport, five-star hotels, as well as other business centres of the City.
He added that there are ample opportunities for foreign investors to invest in Korangi Industrial Area where there is no law and order problem whatsoever.
He said that due to various incentives offered to foreign investors, investment in Pakistan is no more a risky job and various Pak-China mega projects including Gwadar Port, Coastal Highway, Saindak, Power Projects, Hubco, Ghazi Barotha project, Kapco, Karachi Mass Transit project and Optical Fibre project, bear testimony to the fact.
The Government of Pakistan is taking every step to provide investment-friendly and hurdle-free investment climate to investors, due to which investment in Pakistan, both foreign and local, has increased.
He said that Korakoram Highway is a landmark of Pak-China friendship and added that there is scope for increasing exports of Pakistan's rice, wheat, vegetables, fruits, tobacco and cotton to China as the Chinese government has reduced its tariff structure, encouraging the import of food items from Pakistan to meet their growing requirements.
The trade balance is not in favour of Pakistan, which should be narrowed to the minimum he said.
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