Shanghai Electric to make new investments in Pakistan

Islamabad: Chinese giant Shanghai Electric has announced to make new investments in Pakistan.

During a meeting with Pakistani Prime Minister Shehbaz Sharif here, a high-powered Shanghai Electric delegation vowed to continue its positive role in developing Pakistan.

The Chinese delegation was led by the President of Shanghai Electric Liu Ping.

PM Sharif in the occasion, welcomed the interest of Shanghai Electric to make further investments in the generation, transmission, and distribution of electricity in Pakistan.

PM Sharif said the entire nation was grateful to Chinese President Xi Jinping and the Chinese leadership for helping Pakistan in difficult times.

He remarked that the Chinese cooperation and investment to a greater extent led to improved development in Pakistan’s infrastructure, public transport, and power crisis.

Prime Minister Shehbaz Sharif vowed early completion of the ongoing development projects being carried out by the Chinese companies in Pakistan that earlier faced deliberate delays by the previous government.

He mentioned that the China-Pakistan Economic Corridor (CPEC) was playing an important role in the development of Pakistan and emphasized that the government was eying increased cooperation and investment with Chinese companies.

He assured necessary steps to ensure the security of engineers and staffers of Chinese companies working in Pakistan.

He regretted that Thar Coal Power Project, which was supposed to be completed a long time ago, was deliberately stalled by the incompetent government of prime minister Imran Khan.

With its completion, the project would generate 1,320 MW of electricity from local coal, the PM added.

For early completion of Thar Coal Project by Shanghai Electric, PM Sharif tasked the responsibility of assistance to Special Representative Zafaruddin Mehmood and Additional Secretary Nadeem Chaudhry.

He commended the assurance given by the Chinese companies to ensure the completion of projects in Pakistan at a fast pace.

The meeting informed the PM that Thar Coal Power Project was stalled for the last few years, however, the present government was making rapid progress to complete it by the first quarter of 2023. Also, 7,000 local people have been provided employment due to the project.

The meeting was also attended by former prime minister Shahid Khaqan Abbasi, Federal Minister for Power Khurram Dastgir Khan, Minister of State for Petroleum Dr. Mussadak Malik, Special Assistants Zafaruddin Mahmood, Dr Jahanzeb Khan and senior officials.