$25-30bn Chinese investment expected: Kaira

ISLAMABAD: Minister of Information and Broadcasting Qamar Zaman Kaira on Friday said that a $25 to $30 billion Chinese investment was expected in different sectors of the country.

Addressing a press conference on Chinese premier's visit, he said Pakistan and China inked 13 agreements and Memoranda of Understanding on cooperation in economy, energy, banking, security and technology.

He said China would give a grant of dollar 229 million for flood affected road network and agriculture sector leading to provision of rice processors and latest technology of cold storage.

He said the Chinese government would extend soft loan of $400 million while another $10 million cash amount would be provided to be disimbursed as compensation to the flood affected families.

Kaira said that a $10 billion trade agreement would be signed in Saturday's business summit with the Chinese businessmen.

"A total of 500 scholarships to the Pakistani students will be offered to enable them to learn Chinese language and study spheres of advance science and technology, besides, a total of 1,000 cataracts operations would be undertaken by the Chinese surgeons," he added.

He said the Chinese premier has also assured in a meeting with the Pakistan Prime Minister that they would be supporting all the energy projects including coal, wind, hydel etc.

He said with this support, the largest coal reservoirs in Thar would be tapped for power generation .

He said the joint economic group of both countries had identified 36 projects for cooperation which would be completed within a period of five to ten years .

Kaira said besides, completion of small dams, the Chinese government had also assured to invest in mega hydel projects.

The minister replying to a question said that without solution to core issue of Occupied Kashmir with India, progress could not be achieved with the neighbour and China was very well aware of it.

To another question, he said Pakistan did not require to tilt its balance in favour of China, viz a viz, US in this region as it already enjoyed time-tested relationship with China which was exemplary in the whole region.

To another question, he said the safe city project for Islamabad was a part of Chinese government efforts to help Pakistan in the war against terror.

Reiterating Pakistan government's stance over drone attacks, he said that they had expressed their reservation over such attacks.

Pakistan Ambassador to China Masood Ahmed Khan speaking on the occasion said that with signing of these agreements, their desires and expectations had been fulfilled.

He said the situation was changing in the region, and added that Pakistan-China strategic relations would be further strengthened with the current visit of Chinese Premier.

Masood Khan said the strategic relations between two friendly countries were aimed at peace and stability in the region.

Replying to a question, he said both China and Pakistan have consensus that all issues in the region including the core issue of Kashmir should be resolved through dialogue.

He said Pakistan has invited India a number of times to the negotiation table for resolution of issues.

Replying to another question, he said China has not given any indication to India to support its ambition to get a permanent seat in the UN Security Council.

On this issue, Chinese government has said that UN General Assembly was the right forum to discuss reforms keeping in view the interest of developing countries.