Disappointing signal for PM’s visit: Pak-China Business, Investment Forum event cancelled
ISLAMABAD: Caretaker Prime Minister Anwar-ul-Haq’s visit to China to participate in the 3rd Build and Road Forum (BRF) scheduled to be held October 17-18, 2023 has reportedly received a disappointing signal: that the event of Pak-China Business and Investment Forum has been cancelled, well informed sources in Board of Investment (BoI) told Business Recorder.
Board of Investment had made all preparations for a successful Business and Investment Forum and informed all the relevant Ministries and Organisations about it.
However, now the BoI has informed the Ministries of National Food Security and Research, Power Division, Petroleum Division, Industries and Production, Information Technology and Telecommunication and Chairman, Special Technology Zones Authority (STZA) that the Business and Investment Forum has been cancelled, the sources added.
Meanwhile, the caretaker Prime Minister presided over a meeting on his forthcoming visit to China and discussed different bilateral issues with the concerned Ministries and passed on directives to them for further input.
The sources said, Ministry of Foreign Affairs, Ministry of Commerce and Power Division were directed to provide inputs on the issues to be raised with the Chinese leadership, i.e., Free Trade Agreement (FTA), measures to improve balance of trade with China, Sinosure approvals for Kohala and Azad Pattan (Power Division), and delay in payment to Chinese IPPs while highlighting that a major portion of the dues were paid.
Caretaker Prime Minister has directed Ministry of Information, Ministry of Foreign Affairs and Embassy of Pakistan in Beijing to prepare coordinated media strategy for projection of the visit.
This would include, interalia, a briefing by Secretary Information and additional Secretary (Asia Pacific) MoFA, which has already been done. Publication of Prime Minister’s article in Chinese press, PM’s interaction with Chinese media and timely supply of media material for each engagement during the visit is also on the cards.
According to sources, Power Division and Finance Division have been directed to ensure partial payment to Chinese IPPs of outstanding dues to be made before the visit. An amount up to Rs 12 billion is likely to be paid to Chinese power companies on Monday (today).
Shah Jahan Mirza, Managing Director Private Power and Infrastructure Board (PPIB) which deals with CPEC IPPs, is also expected to accompany the caretaker Prime Minister to assist him in meetings with the Chinese leadership and CEOs of the relevant companies. Regarding the Gwadar Power Plant, Minister for Power, Muhammad Ali may brief the Chinese side during his interaction.
It has also been decided that following officials of Government of Pakistan/ Gilgit Baltistan will join Prime Minister during official engagements in Beijing: Chief Secretary, Gilgit Baltistan, Director General Transit Trade, FBR, Collector Customs, and GB Special Investment Facilitation Council (SIFC) will lead on agriculture.
Pakistan is expected to seek Chinese investment on the following hydropower projects with completed feasibility studies: (i) 10MW HPP at Tormik Skardu; (ii) 15MW HPP Sakarkoi Gilgit; (iii) 40MW HPP Basho Skardu; (iv) 80MW HPP Phandar Ghizer; and 100MW HPP Kiu Gilgit. The sources said brief on Gwadar Port including status of New Gwadar Airport has already been provided to the Prime Minister.
Prime Minister directed Ministry of Foreign Affairs and Ministry of Communication to explore possibility of MoU on Yarik-Zhob Section N-50 of western corridor during the visit to China. Signing of Five Year Action Plan for Highway Technical Cooperation between China and Pakistan is also on the cards.
The concerned Ministries have also updated Prime Minister on over two dozen pacts to be signed during his visit to China and incentive packages for SEZs.
Copyright Business Recorder, 2023
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