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October 22, 2019

PM inaugurates CPEC-related Hub power generation plant

Top Story

October 22, 2019

HUB/KARACHI: Prime Minister Imran Khan said on Monday that clean governance and business-friendly policies implemented by the incumbent government were attracting giant firms from across the world to invest in multiple sectors of Pakistan.

Addressing the inauguration ceremony of 1,320 megawatt China Hub Power Generation Plant in Hub, he said red tape used to impede foreign investment in the past, however, the current government was making dedicated efforts to bring ease of doing business.

The ceremony was also attended by Federal Minister for Water Resources Faisal Vawda, Balochistan Chief Minister Jam Kamal Khan, Chinese Ambassador in Pakistan Yao Jing and senior officials of the Chinese contractor firm.

Khan said the inauguration of the power project was pleasing for it being the first one having been executed in partnership between Pakistani and Chinese firms.

He said his government desired to see such joint projects in future too and asked the local small and medium enterprises (SMEs) to collaborate with the Chinese firms interested to invest in Pakistan.

The Prime Minister told the gathering the government desired to promote power generation through indigenous resources as the country was rich in hydro-power potential of around 50,000MW. He said huge resources of gas and coal also remained untapped, which otherwise could have saved huge foreign reserves currently used to import oil to fuel the power plants.

Referring to immense potential of mining and investment in Balochistan, he asked the Balochistan chief minister to develop special economic zones in Lasbella to facilitate Chinese firms desiring to relocate to Pakistan.

He said the foreign firm, which had won the litigation against Pakistan in Reko Diq case imposing $6 billion fine on the country, had again shown interest in the project. Khan said the company was in negotiation with Pakistan as during his interaction with him in the United States, the company chief had told him Pakistan had the highest quality gold reserves.

The company was interested to resume working on the project owing to the transparent policies of the government, he added. Not only that firm, many other companies too, including an Australian mining giant, were also interested to invest in Pakistan. He stressed investment could not be attracted until the country was purged of corruption.

The Prime Minister said the China Pakistan Economic Corridor (CPEC) was a golden opportunity for Pakistan. Previously, the CPEC had been limited to roads and power projects, however, now it was being expanded to fisheries and agriculture too to enhance productivity.

Meanwhile, Prime Minister Imran Khan said the federal government was cognisant of Karachi’s civic problems, especially transport and waste management, and was ready to play its role as per available resources, as he blamed corruption for poor administrative situation in the metropolis.

In a meeting with Pakistan Tehrik-e-Insaf’s provincial lawmakers during his day-long visit to Karachi on Monday, the Prime Minister said the local bodies system would help Karachi overcome its civic problems.

Calling Karachi as the country’s economic hub, he regretted the previous governments ignored the problems of the metropolis and its people. He mentioned his government inherited the heaviest burden of fiscal debt, and said steps were now being taken to improve the financial situation.

Earlier, the members of Sindh Assembly apprised the Prime Minister of the ongoing development work and the problems faced by the people in their constituencies.

The Prime Minister directed federal ministers to enhance liaison with the PTI’s provincial lawmakers. Minister for Planning Khusro Bakhtiar, on the occasion, made a detailed presentation with regard to the federal government-funded development programme for Karachi. He particularly referred to K-4 project and assured the implementation of that mega water supply scheme at every cost.