China to invest more $10 to $15 Bn in Pakistan
New Delhi: Pakistan has received commitments from China for getting investments of $10-$15 billion for various sectors, including for establishing industrial units at 2,200 acres of Gwadar Free Zone, exploring the possibility to establish an oil refinery at Pasni, and relocation of industries into seven important sectors, including textile, footwear, and pharmaceuticals into upcoming the Special Economic Zones.
Adviser to Prime Minister on CPEC, Khalid Mansoor, on Monday, said that Pakistan took steps to address the outstanding concerns of Chinese investors such as payment of dues to independent power producers, making revolving funds functional, and changing the Special Economic Zones (SEZ) Act.
“The government has paid Rs50 billion to IPPs while another installment of the same amount will be given by the end of the ongoing month. The Revolving Fund has been made functional,” PM’s Adviser on China Pakistan Economic Corridor (CPEC) Khalid Mansoor said while addressing a news conference here on Monday.
The Pakistani delegation under PM Imran Khan had returned from China after attending Olympics Winter 2022 and on the sidelines, they held meetings with Chinese leadership, including President Xi Jin Ping.
Meanwhile, Federal Minister for Planning and Development Asad Umar told The News on Monday that the prime minister held meetings with 19 Chinese companies, inviting them to invest in Pakistan.
(_Vinayak)
