More Chinese investment expected in Pakistan soon: Planning Minister

Gwadar Pro

Islamabad: Federal Minister for Planning and Development Ahsan Iqbal has said that more Chinese investment was expected in Pakistan soon.

Speaking at a news conference here, mentioned that during Prime Minister Shehbaz Sharif’s recent visit to Balochistan and his meeting with Chinese investors, the Chinese companies had shown interest in investments in Gwadar.

The minister reiterated that the government was according topmost priority to speeding up work on projects under China Pakistan Economic Corridor (CPEC).

Briefing the journalists about different projects approved by Central Development Working Party (CDWP), he informed that a power project at Diamer Bhasha dam worth Pakistani Rs 900 billion had also been approved.

Iqbal remarked that work on water supply scheme in Gwadar will be completed by September this year while 1.2 million gallon per day de-salination plant work will be completed till October to solve water issue in Gwadar.

He elaborated that 65 percent funding of the project will be made by federal government while 35 percent will be borne by provincial government of Khyber Pakhtunkhwa.

He underlined that the new Gwadar International airport will also be completed by March next year.

Ahsan Iqbal said the CDWP had also accorded approval to a project for provision of water to southern districts of the Khyber Pakhtunkhwa province.

The Minister stated that Chaman-Quetta, and Karachi road N-25 dualization project had also been approved. He said roads infrastructure in Balochistan has been prioritized in the upcoming budget which was aimed at providing a well laid network of roads in the province that will help provide people with better health, employment and education opportunities.

He highlighted that an agreement will be signed soon with Iran to provide 100 MW extra electricity to Makran cost to overcome power shortage in that area.