LAHORE: Punjab Chief Minister Muhammad Shahbaz Sharif and his delegation met heads of different energy companies, financial institutions, development agencies and banks in Beijing on the third day of his visit to China and discussed various proposals for investment in coal, solar and hydle power projects in Punjab.
Heavy investment in the energy sector is expected in the province as a result of these meetings, says a handout released by DGPR here on Thursday.
The chief minister informed Chinese investors that solar power plant in south Punjab would start operating by the end of the current year. He said in order to facilitate investors, the Punjab government will initially make investment in various energy projects.
He said there was a vast scope of setting up power plants operated with hydle, solar, wind and coal-fired energy and the Punjab government was offering the best rate of profit to investors.
Projects to be started with Chinese cooperation will be executed with the same speed at which metro bus project was completed in Lahore, he added.
Meanwhile, talking to the media, the chief minister said the agreement reached between China and Pakistan the other day in Beijing was of historic significance.
He said under the agreement China will make investment of billions of rupees in Pakistan and it will be the heaviest Chinese investment in Pakistan in the history of the country. He said China had promised to invest twenty billion dollars in the energy sector only to rid the people of Pakistan from loadshedding.
Shahbaz Sharif said heavy investment by China in Pakistan was a proof of its confidence in the leadership of the country. Chinese leadership was fully aware of the fact that the reigns of the country were in the hands of those who believed in practical work and were totally sincere and committed to the nation, he added.
Later, the chief minister attended a reception hosted by the Chinese Prime Minister. Speaking on the occasion, the chief minister expressed gratitude to the Chinese prime minister for announcing to cooperate in the construction of motorway from Lahore to Multan.
The chief minister also informed the Chinese leadership and investors about the efforts made by the federal and provincial governments since coming into power for increasing electricity production.