Third country Investments in CPEC

Islamabad: Planning, Development and reforms Minister Makhdoom Khusro Bakhtiar said that PTI Government will mainly keep its focus on hydro power projects. Less attention would be paid to Imported fuel power projects and Third country Investments will be invited in the CPEC.

While presiding over the 56th CPEC progress review meeting in the second week of September he said ““Pakistan will open the CPEC for business for all and for this purpose we will invite third-country investment. Two focal persons have been appointed by Pakistan and China to determine for investment of the third country. The basket of energy mix should not tilt toward imported fuel projects. We are focusing on hydropower projects by expelling fuel imported power project form basket of energy mix”

He said that unlike previous administrative setups, this Government will not only focus on indigenous power generation projects, like Thar Coal power project but also on transmission and distribution system.

He emphasized the importance of geographical position of Gwadar port and said that it will be our foremost objective to provide connectivity to it. He said that 80% transshipment of the world could be made through Gawadar port so it is essential that its development is done in compliance with international standards.

The Minister revealed that the government is setting financial modalities the prime focus being Capacity building. $6 Billion had been obtained by the previous government from china in this capacity.

Khusro highlighted the new Socio-Economic development working group which has been established by both the Countries for the benefit of the people in education, health agriculture and housing sector. Both countries agreed to negotiate and determine the future development path and cooperation direction of the CPEC. However, Pakistan will prioritize its social and economic development as well as needs of its people,”

He assured that manufacturing and industrial development will not be limited to special economic zones but also a comprehensive agreement with china would be made in this regard.