Energy, textile sectors: China Bank assures Punjab CM of investment worth billions of dollars

Industrial and Commercial Bank of China has assured investment in energy, infrastructure and textile sectors besides construction of a big industrial city in Punjab.
This assurance was given to Chief Minister Punjab Shahbaz Sharif by Chairman of the Bank Jiang Jianqing during a high-level meeting in Beijing.
The CM and the Chairman of Bank participated in the meeting along with their delegations while Chairman Planning & Development and senior officers were also present on the occasion.
As a result of this decision, foreign investment of billions of dollars will be made in Punjab during the next few years.
The Chinese officials said their bank besides providing capital for development projects in Punjab would also help the provincial government in acquiring investment from other international sources and private companies.
Shahbaz Sharif while speaking on the occasion said the decision of investment by the Chinese Bank would greatly help in achieving the targets set in energy and other sectors. He also welcomed the decision of the bank to open its branch in Lahore and assured all out cooperation in that regard.
The Chief Minister also met senior officials of Chinese investment companies and financial institutions besides local investors in Beijing and discussed matters regarding standards, timeline and minimising the cost of development projects. New Chinese investment companies during the meeting with the Chief Minister announced investment in energy and infrastructure sectors.
Shahbaz Sharif welcomed the assurance given by new Chinese companies of investment in energy and infrastructure sectors, and said mutual cooperation between China and Pakistan was increasing speedily.
Shahbaz Sharif while addressing Pakistani delegation visiting Beijing for participating in the meeting of Joint Economic Council said that history had provided a golden opportunity to Pakistan to progress with the cooperation of China and it was collective responsibility to take full benefit in this regard.
He said China had resources, skill and technology and was ready to extend all out help to Pakistan, adding that honesty, commitment and hard work were necessary for availing that opportunity.
Talking to media in Beijing, Shahbaz Sharif said that he had come to China with the mission to change the destiny of Pakistan and Prime Minister Nawaz Sharif had given a new dimension and depth to Pak-China relations. He said Prime Minister Nawaz Sharif would always be remembered as the builder of Pak-China relationship. He said despite the negative impact of sit-ins, all out efforts were being made to complete the ongoing projects with Chinese cooperation within minimum time. He said people of Pakistan were waiting for the visit of the Chinese President.
Punjab Chief Minister Shahbaz Sharif held separate meetings with Chinese investors and delegations of China National Textile and Apparel Council (CNTAC) and China Association of Development Zone. Matters regarding investment in energy, infrastructure, education, health, agriculture and other sectors were discussed on the occasion.
The Chief Minister offered Chinese investors to invest in 120 megawatt hydle power projects in Punjab to which Chinese investors expressed deep interest.
Shahbaz Sharif while talking to a delegation of Chinese investors said that besides ongoing projects, work was also being carried out on new projects with the cooperation of China. He said Pak-China agreements were based on transparency, hard work and mutual trust.
He said work was speedily in progress on a coal-based power project in Sahiwal with the Chinese investment. He said there were also prospects of generation of power through wind energy in Punjab.
Shahbaz Sharif while talking to senior officials of China National Textile and Apparel Council asked CNTAC to invest in Apparel Park near Motorway in Sheikhupura. CNTAC expressed keen interest in the project.