Another $800 million to be invested in Pakistan by China Mobile

Prime Minister Syed Yousuf Raza Gilani held a series of meetings with Chinese corporate leaders, including Wang Jianzhou, Chairman of China Mobile, Jin Kening, President China National Chemical and Engineering Corporation (CNCEC) and Levin Zhu, Chairman China International Capital Corporation (CICC) during his visit to China.

China Mobile has announced that it would invest a further $800 million in Pakistan, according to an official statement issued here. Prime Minister Syed Yousuf Raza Gilani held a series of meetings with Chinese corporate leaders, including Wang Jianzhou, Chairman of China Mobile, Jin Kening, President China National Chemical and Engineering Corporation (CNCEC) and Levin Zhu, Chairman China International Capital Corporation (CICC) during his visit to China.

Chairman China Mobile announced investment of a further $800 million in Pakistan during this year. The Prime Minister welcomed China Mobile’s continuous interest in Pakistan and assured its chairman of his government’s full support in expansion of the company’s operations.

During the meeting with Chairman CNCEC, the Prime Minister appreciated China National Chemical and Engineering Corporation’s $900 million investment by way of operating 8 to 9 plants in fertilizer and PVC sectors in Pakistan. He urged the Chairman to expand his corporation’s operations in the country. He also apprised Chairman CNCEC about Pakistan’s large deposits of coal and urged him that his corporation should invest in the energy sector for electricity generation based on coal.

In his meeting with Chairman China International Capital Corporation (CICC), Levin Zhu, who is the son of former Chinese Premier Zhu Rongji, the Prime Minister commended the able leadership of the former Chinese Prime Minister for steering China’s great progress and development in economic and social sectors. He also lauded former Premier Zhu Rongji’s contributions in strengthening of Pakistan-China relations and in particular the role he played in launching the Gwadar Project. The Prime Minister stated that Pakistan will always remember former Premier’s personal role and commitment in taking the bilateral ties to a higher plane. He briefed Levin Zhu on the priorities of his government in economic fields and urged his corporation to invest in Pakistan’s agriculture, energy and infrastructure sectors. He also emphasised the CICC should consider the possibility of collaboration in banking and financial sectors between the two countries for forming consortiums to invest in Pakistan. Levin Zhu assured him his corporation’s full cooperation in furthering the economic ties between the two countries and stated that he would coordinate his corporation’s future plans for investment in Pakistan with the Ambassador of Pakistan in China.

Prime Minister of Pakistan’s last engagement in Beijing was his meeting with the Chinese Youth delegation. While talking to the delegation, he noted with satisfaction that a 100-member Pakistan Youth delegation had recently visited China and the Chinese Youth delegation was now expected to undertake a similar visit to Pakistan. Underlining the importance of people-to-people contact between the two countries, he expressed his joy that the youth of Pakistan and China, who are the future leaders of their respective countries, were engaged in regular interaction. The Prime Minister was confident that in view of the regular exchanges between the two countries at every level, the Pakistan-China friendship would grow even stronger and deeper in the future.

Source: Daily Times , Pakistant