Shahbaz asks foreign investors to invest in Punjab

Says there would be no red-tape, bribes; no room for politics
on national projects; China knows current Pakistani leadership true guardian of CPEC

LAHORE: Chief Minister Shahbaz Sharif on Monday asked foreign investors to invest in Punjab without any hesitance, promising there would be no red tape and bribes.

“I would request the national and international investors to move forward and take full benefit of opportunities of investment in Pakistan, especially in Punjab”, said the chief minister who added that there would be no red tape, bribes and commission.

Shahbaz was addressing the inaugural session of second international seminar ‘Opportunities of Investment in Punjab’ under the aegis of Punjab Board of Investment at a local hotel. Provincial Ministers, members of the parliament, representatives from 26 countries besides a large number of investors, industrialists and diplomats attended the seminar.

Over 69 projects from different government departments are going to be negotiated with foreign investors over the course of the two-day conference in addition to the separate list of initiatives designed by the Punjab Board of IT.

While the majority of participants were from China and Turkey, there also were investors from Sweden, Germany, Switzerland, Belarus and other countries. He said there was no room for politics and distributing projects of national importance according to whims.

The chief minister stressed the need of creating harmony, not discord, over CPEC and said otherwise “the future generations as well as the history will not forgive us”. He said the Chinese leadership understood the fact that the current leadership of Pakistan was a guardian of CPEC in the real sense.

Shahbaz said, “Taking full advantage of this golden opportunity is a collective responsibility of all of us as this is a great project for turning hopelessness into hope and disappointments into joys and happiness. We will have to make this project a success with our hard work, commitment and passion. It is our responsibility as well as an obligation.”

He said, “Fast-track implementation on CPEC has been commended by China as well as the rest of the world. Friends are happy, while the foes are unnerved and perplexed, over the successful implementation of this project. The elements terming it as expensive commercial loans have been calmed down. These are not loans but an investment of China.”

He said people from all sections of society – including politicians, judges, generals, bureaucrats, industrialists and traders – would  have to move forward by learning from the past mistakes and the history so as to achieve the goal of self sufficiency and to make the country self-reliant. He termed the investors as ‘masters’ and said their investment helps to boost trade and economic activities in the country, besides promoting millions of new job related opportunities, while it also proves very beneficial in dealing with poverty and joblessness issues.

Shahbaz said no strings were attached with CPEC. “The Belt and Road vision of the Chinese President is a vision aimed at development and prosperity, which is not limited to some selected countries but for the entire world,” he added.

The chief minister especially mentioned various ongoing power projects in which Chinese and Turkish companies have invested. “Similarly, British investors entered into agreement for investment in Punjab during the previous conference and today this project has been inaugurated,” he said citing the British group Ashmore which has invested 70 million euro in a beverage project.

Shahbaz said peace was necessary for investment as the Pakistani nation had rendered invaluable sacrifices for the promotion of peace.” Terrorism and fanaticism have damaged the economy and obstructed the economic activities. Political as well as military leadership, including the whole nation, is fully committed to totally eliminate the menace of terrorism from the country,” he added.

The chief minister thanked the Pakistani ambassadors, especially in China and Turkey, besides the ministers and departments concerned, saying “this wonderful event would leave very positive impacts on investment in Punjab”.

The foreign investors appreciated the transparency-based policies and commended the sincere efforts of Shahbaz Sharif for speedy development of the province.

Former Chinese diplomat Sha Zukang in his address described Shahbaz as great friend of China and noted that unprecedented development had been made in Punjab which had emerged as the most developed and prosperous province of Pakistan.

China’s Consul General Long Dingbin said investment had been enhanced in Punjab and the participation of 300 Chinese investors in the seminar was a proof of that. Turkish Consul General Sardar Deniz and the president of Pak-Turkish Business Council said a number of Turkish companies were working with the Punjab government and more of them would invest in the province in the coming days.

The CEO of the Chinese company working on Sahiwal Coal Power Project said it was a landmark initiative which would be completed in a record period of 22 months. The managing director of Metro Cash and Carry Pakistan said the Punjab government has taken revolutionary steps for the promotion of infrastructure, agriculture and industries to enhance the investment.

Patchamuthu Illangovan, the World Bank country director in Pakistan, congratulated Shahbaz Sharif for creating favourable investment environment. LCCI President Abdul Basit and Finance Minister Ayesha Ghaus Pasha highlighted the importance of seminar in their speeches.