Meeting held to improve uplift projects in Pakistan

Islamabad: Foreign Minister Makhdoom Shah Mahmood Qureshi held a meeting with the heads of Chinese companies executing development projects and doing business in Pakistan here at the Foreign Office.

The focus of the meeting was on attracting and undertaking more investment projects in Pakistan and re-visit preparations for President Asif Ali Zardari's forthcoming visit to China.

Launching the Economic Diplomacy Initiative the Foreign Minister, acknowledged the important role played by Chinese in development of Pakistan and highlighted the value of corporate sector in further enhancing the economic and commercial relations of Pakistan with China.

Both the countries are co-operating in various fields and have developed a broad strategy for further improving co-operation in trade, power-generation, financial and banking sector, and exploration of natural resources.

Qureshi emphasised the need to translating this strategy into reality by implementing the project in the pipeline on fast-track basis. He described government's vision to broaden economic co-operation with China to bring it at par with the excellent political and security relations that exist between the two countries.

He said that during his forthcoming visit to China, the President will hold meetings with the heads of Chinese companies and financial institutions.

He also assured the Chinese companies of the fullest co-operation and facilitation by the Government to promote their businesses in Pakistan.

Sources said that Pakistan will specially seek further assistance in nuclear power generation as a nuclear power project with the capacity of 300MW has already been completed by China in Chashma and is setting up another there. There is also an understanding that Beijing will build six nuclear power plants with an installed capacity of 300MW each, sources added.

Pakistan's growing nuclear energy needs are becoming an important incentive for China to act as a global player in the nuclear power industry, sources concluded.