FPCCI chief lauds Chinese cooperation in various fields

China expresses renewed interest in expanding economic ties

High-powered Chinese delegation expresses interest in energy project

Islamabad:

Dated: August 19

China on Monday expressed renewed interest in increasing bilateral economic ties and vowed to resolve Pakistan’s energy crisis by investing the ailing sector.

The pledge was made in a meeting between officials of Policy Research Office, Kunmíng, the capital and largest city of Yunnan province in Southwest China and President FPCCI Zubair Ahmed Malik.

Speaking at the occasion, Director of Policy Research Office Mr Yuan Peiwen, having expertise in solar and wind power, said that they have come to Pakistan to have direct communication with business community to explore ways and means to enhance economic cooperation which include

We are here to improve understanding and to resolve problems of the local exporters, he added.

He said that two-way trade has picked up to 12 billion dollars in last five years Pakistan’s exports registering 48.2 per cent growth in one year. He hoped that target of 15 billion dollar of bilateral trade would be met by 2015.

The biggest increase in Pakistan’s exports to China in 2012 were textiles, vegetable products, ores, mineral products, base metals, marble products etc., said Peiwen adding that Pakistani business community will be provided every possible facility in China.

Speaking on the occasion, President FPCCI Zubair Ahmed Malik said that China is now Pakistan’s biggest trading partner.

He lauded Chinese government and business community is expansion of Pakistani business community in their country saying that opportunities being provided will go a long way in cementing ties.

China is on way to become the largest energy consuming country of the world in which Pakistan is fully cooperating through proposed energy corridor, said Malik.

He said Chinese economic policies are based on partnership and political equality which is highly encouraging.

Lauding the recent pledges by Chinese companies to invest heavily in Pakistan’s energy sector, the leader of the business community said that maximum resources should be utilized for controlling energy crisis for the development of the country.

He said that government is attaching top priority to resolving energy problem and all out encouragement is being extended to local and foreign investors.

China is a trusted friend of Pakistan and has played a commendable role in its development.

Pakistan is a poor country which needs to generate power at minimum cost to cope with the energy problem which has compromised growth, said Zubair Ahmed Malik.

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Govt asked to promote new investments in energy sector

No poverty reduction sans ample energy

Provision of energy imperative to transform lives

Energy enables people to work their way out of poverty

August 19

The Pakistan Economy Watch (PEW) on Sunday asked the government to promote new investments in the energy sector by introducing better regulations as poverty cannot be reduced in presence of energy scarcity.

Access to energy is imperative to transform lives which is not getting proper attention on the national and global level as majority of Pakistanis as well as a third of the world’s population has no access to modern energy services, it said.

Tens of millions in Pakistan and 1.3 billion people worldwide are still without any form of electricity and 2.7 billion people still cook over open fires despite availability of solutions, said Dr Murtaza Mughal, President PEW.

Estimates say in the next seventeen years three billion will cook with traditional fuels, more than 30 million people will have died due to smoke-related diseases and hundreds of millions will be confined to poverty due to lack of energy, he informed.

Of those who don’t have access to modern energy around 70 per cent are women who spend significant time and money to obtain energy that is not only unpredictable, expensive, unsafe, and highly polluting, he said.

Dr Murtaza Mughal said that lack of access to electricity also prevents the development of key social programmes like education, health, sanitation and provision of clean drinking water, continuing a cycle of poverty that is very difficult to break.

He said that energy is vital to escape poverty but unfortunately lack of interest on the part of governments has left a third of the world’s population has no access to modern energy services which is impeding global growth.

He said that Pakistan government should boost efforts to tame energy crisis and promote new investments as provision of electricity is linked to development of agriculture, industry, trade,  jobs, medicine, sanitation and water purification.

Every dollar invested in a solar energy generates more than $46 in economic benefits in the first year alone; it results in a stronger economy, a healthier population, and enables parents to ensure a bright future for their families.

He said that energy enables people to work their way out of poverty, it provides better access to basic services while improving health and wellbeing of everyone, especially that of women and children.

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Turkish investment in Pakistan’s energy, infrastructure and municipal services

ANKARA, 28 July 2013: Mayor of Istanbul Dr. Kadir Topbash in a meeting with Ambassador of Pakistan in Turkey Mr. Muhammad Haroon Shaukat assured full support for initiating further development and investment projects specially in energy, low cost housing, infrastructure and municipal services.

The Mayor said that Istanbul Metropolitan Municipality extended full support in successfully completing projects such as Lahore Metrobus and Lahore solid waste management to the satisfaction of the Pakistani authorities.

Ambassador Haroon Shaukat thanked Mayor Topbash and said the people of Pakistan appreciate these projects which could serve as the basis for initiating more projects in other cities. “We consider Turkey as a model country and look forward to rapidly enhancing economic and commercial cooperaton with Turkey," said the Ambassador.

The Pakistani Envoy said Turkish investors and businessmen should come forward and invest in Pakistan’s energy sector given a huge gap between demand and supply. Pakistan’s energy sector including hydel, solar and wind energy offers immense investment opportunities and high returns on investment, he added.

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