Imran Khan to directly resolve Chinese investors issues: CPEC aide

Islamabad: Prime Minister Imran Khan will directly resolve any issue of the Chinese investors, his key aide said.

Special Assistant to Prime Minister (SAPM) on China Pakistan Economic Corridor (CPEC), Khalid Mansoor told a news conference here that PM Khan had issued strict orders to facilitate the Chinese investors.

“The CPEC Authority provides one-window facility to the Chinese investors. If their issues still remain unresolved, then PM’s house is there to address the issues,” Mansoor maintained.

He informed that under the Phase-2, Chinese companies would support in setting up Steel and Metal Recycling Plant in Gwadar within three years, which would produce metals worth US $4.5 billion for exports besides creating 40000 jobs.

Khalid Mansoor underscored that the phase-2 of the corridor involved multi-billion-dollar investments in Pakistan as most of Chinese companies had shown their interest to investment in country.

The SAPM stressed that during his two-day historic visit to China, Prime Minister Imran Khan held around 20 back-to-back meetings with representatives of around 500 companies to help bring investment into the country.

He mentioned that the Prime Minister listened to the representatives of these companies patiently and assured them of full cooperation of his government for investing in the country.

He remarked that the PM presented a pitch book to Chinese leading companies which included detailed information and investment opportunity in various sectors of economy including textile, pharmaceutical, footwear, information technology, agriculture, cottage industry.

He said that it had been thoroughly elaborated in the book why Chinese investors should prefer Pakistan for investment over other regional countries adding that Pakistan offered win-win situation for the benefit of the country as well as investors.

Mansoor pointed out that 65% population of Pakistan was under 40 years of age and Pakistan had skilled labor force and cheaper as compared to China.

The SAPM emphasised that the Chinese companies had been facilitated with compliance regime and they were not required to obtain No-Objection Certificates (NOCs) from 37 different departments before launching any investment project in the special economic zones.

He said that Chinese companies would also help develop agriculture of the country on modern lines to enhance per acre yield and seed quality.

Mansoor added that some companies were interested to grow maize and soybean in Pakistan.

He noted that a Chinese company would invest in building Liquified Natural Gas (LNG) storage at Karachi port whereas a factory for value added products would be set up on Lahore-Kasur road in the textile sector.

Mansoor contended that another Chinese company Royal Guru was interested to invest US $50 million in auto-sector of the country.

“Chinese companies want to invest US $200 million in making medical devices whereas as investment of US $2 billion by the Chinese companies would be made for laying optical fiber,” he observed.

He elaborated that Chinese companies wanted to invest in science and technology zone and were also interested in supporting bidding for privatization of Pakistan Steel Mills (PSM).

Mansoor apprised the journalists that both the countries China and Pakistan had agreed to move forward with the second phase of CPEC.

He said, during the Phase-I of CPEC, out of US $53 billion investments of $25 billion were materialize whereas $28 billion were under consideration.

Mansoor indicates that fresh steps were being taken for rehabilitation of industries and industrial development in Pakistan.

He informed the journalists that Economic Coordination Committee (ECC) had approved refunds Pakistani Rs 100 billion to CPEC Independent Power Producers (IPPs).

“Out of which Rs 50 billion have already been paid while remaining Rs 50 billion would be paid soon,” Mansoor added.