FM hails China’s $20bn contribution to Pakistan’s power sector

October 14, 2024 (MLN): China has made significant contributions to the nation’s economy by investing a substantial amount of $20 billion, particularly in the power sector through the China-Pakistan Economic Corridor (CPEC).

This was stated by Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb on Sunday while highlighting China's importance to Pakistan.

Addressing a function organized by China Chamber of Commerce, the minister expressed optimism about Pakistan’s economy, stating it was heading in a positive direction.

He emphasized Pakistan’s commitment to honoring agreements made with Chinese companies and noted that Chinese companies have made substantial investments in Pakistan, utilizing the country’s natural resources and contributing to its development.

Under CPEC, 9,000 megawatt power projects are being established, including coal and hydroelectric power plants, he added.

Aurangzeb praised the record-breaking investments made by Chinese companies in Pakistan, citing it as a testament to the long-term partnership between the two countries. He also welcomed the transparency displayed in the recently published report, APP reported.

Furthermore, Aurangzeb expressed gratitude for the Chinese Premier’s presence in Pakistan, considering it an honor and looking forward to his visit on Monday.

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