Speaking at the KCCI's reception in honour of Gao Xiging, President of China Investment Corporation (CIC), he urged Chinese investment in energy, infrastructure, metro-railways, mass-transit, dams projects which are direly needed to uplift economy and further strengthen Pak-China friendly relationship and economic co-operation. He said Chinese co-operation with Pakistan reached high points with substantial investments from China in Pakistani infrastructural expansion, including the noted projects in the Pakistan deepwater port in Gawadar, however, in view of Pak China Friendship which was deeper than ocean, greater than Himalaya, growth in mutual co-operation was essential to uplift Pakistan's weakening economy.
He said Karakorum Highway was a remarkable example of mutual co-operation and was the symbol of friendship and understanding. The year 2011 was celebrated as "Pakistan-China Friendship Year, on 60th Anniversary of Pak China Relations". More than 11,000 Chinese engineers, technicians and workers are rendering their valuable services in progress and development of Pakistan.
He said Chinese investment in Pakistan increased manifolds in key sectors including port development, roads, railways, mobile telephones communication technology, hydro and thermal power, mining, electronics, and nuclear energy. A large number of Chinese companies are working in Pakistan in oil and gas, IT and telecom, power generation, engineering, automobiles, infrastructure and mining sector.
Gao Xiging, President of China Investment Corporation (CIC), speaking on the occasion, stated that China and Pakistan were great friends and Pakistan was one of the best friends of China. Both countries have been committed to develop closer bilateral relations and further broaden their economic engagement for achieving common development.
He also said Pakistan was also our neighbour country and Chinese always felt safe in Pakistan. "Pakistan has very good potential in different fields. China is also giving new face to its industry with sector diversification. China-Pakistan's trade and economic co-operation has seen good progress. CIC is state-owned institution, having around 200 billion dollars foreign exchange reserves, enters into investment, joint ventures, shareholding etc."
Chairman Sindh Board of Investment & former president KCCI, Muhammad Zubair Motiwala proposed the CIC President to establish Pak-China mutual fund that could fund the potential projects and joint ventures in the public and private sector of Pakistan.
He articulated that Pakistan had second largest reserves of coal, and said Pakistan could benefit from Chinese technical assistance in coal energy projects. He also emphasised on the urgent need for accelerating the effort for development of indigenous and cheaper energy resources, reliable, efficient, safe and cost effective solutions for coal based power generation. He said "Chinese Technical expertise in wind power is also essential. Pakistan and China can also create joint venture in textile sector as Chinese companies buy textile products from Pakistan." He also underscored joint collaboration in education sector. Pakistan also needs technical support and help to build infrastructure for instance express ways and bridges. Investment opportunities are also available to promote tourism.-PR