Dec 02 , 2015
News
CPEC to make Pakistan powerhouse of Asia
Minister says China brings huge investment in Pakistan when local investors hesitatingISLAMABAD – Minister for Planning and Development Ahsan Iqbal has said that the China-Pakistan Economic Corridor (CPEC) would be a corruption free project and fate changer for Pakistan and had the potential to make the country a power house of Asia.
Talking to a private TV channel, he said that there was zero chance of corruption in the project as out of $46 billion $40 billion would be invested in power sector through private investors, and private sector would have to get return of its investment.The remaining six billion dollars would be a confessional financing from Chinese government for the projects of infrastructure, he said.
Ahsan said that being a time-tested friend, China had taken a decision of huge investment in Pakistan in a time when the local investors were hesitating to invest in Pakistan. He said that the project has changed the world’s perception regarding Pakistan.
The minister said that the Chinese government would nominate a panel of three reputed companies in this regard. He said that the bidding would be made among all the three companies and the lowest bidder would be awarded with the contract.
He said that national institutions had fixed the tariff for different energy projects of investment including coal, wind, hydel and solar in country’s energy policy. The contract would be signed with any contractor to purchase the electricity on the fixed tariff, he said.
Courtesy www.dailytimes.com.pk