Saturday, July 10, 2010

All resources will be used to overcome energy crisis

* President invites China to invest in country
* Expresses satisfaction over cooperation in civil nuclear technology

BEIJING/SHANGHAI: Pakistan will use all resources for power generation to overcome its energy crisis, President Asif Ali Zardari said on Friday while speaking at the Pak-China Economic Forum.

The president also called for increased economic cooperation between the two countries and invited Chinese entrepreneurs to take advantage of the special incentives being offered to them in Pakistan. He invited Chinese investors to invest in Pakistan’s engineering, banking, communication, agriculture and energy sectors.

The forum had representation from CEOs of leading corporations and institutions representing energy, construction, mining, petroleum, engineering, shipping, finance, banking, industries as well as the chamber of commerce and industries.

Zardari said Pak-China friendship had been passed to the third generation and now every child in Pakistan was looking forward to maintaining it with the same sentiments.

“We have to strengthen our bonds through enhanced economic cooperation to fulfil the vision of Zulfikar Ali Bhutto and Mao Tse Tung,” he added.

He said Pak-China friendship was an important feature for peace and stability in the region, adding that both countries had to stand together to fight the new challenges in the region.

Nuclear energy: Zardari also expressed satisfaction over the cooperation between China and Pakistan in civil nuclear technology, setting aside reservations of the world community.

“This reflects the existence of warm and deep relations between the two friendly countries and is a matter of pride and respect for Pakistan,” the president added.

He said the rail and road links between the neighbours would help boost trade and economic relations between the two countries.

Zardari said there are more than 120 companies and about 10,000 Chinese nationals in Pakistan involved in sectors such as mining, energy exploration and infrastructure building, but Pakistan needs more investment.

Addressing the economic cooperation forum, Chinese Commerce Minister Chen Deming said bilateral trade could hit $15 billion in 2015.

Meanwhile, Pakistan and China signed four MoUs in health, power generation and building of two major highways in Gilgit-Baltistan. Under the agreement, China will build the 165-km long Jaglot-Skardu Road and the 135-km long Thakot-Sazin Road. The projects will cost Rs 45 billion with 15 percent financing by Pakistan and 85 percent by China. The two countries also signed MoUs for cooperation in the health sector, particularly for the production of vaccines to check polio and hepatitis. app

Courtesy www.dailytimes.com.pk

Back to Top