KP govt signs 11 MoUs with China under CPEC

April 17, 2017

BEIJING (INP): The Khyber-Pakhtunkhwa (KP) government here on Monday signed 11 Memorandum of Understanding (MOUs) with the Chinese Companies for completion of various development projects under China-Pakistan Economic Corridor (CPEC) framework in the province.

Chief Minister, KP, Parvez Khattak, Ambassador of Pakistan to China, Masood Khalid, President China-Pakistan Friendship Association, Sha Zhu Kang, ministers and senior provincial officials witnessed the signing ceremony.

The development projects to be completed in different parts of the province included information technology, special economic zones, power plants, oil refinery, infrastructure and e-commerce.

Speaking on the occasion, Parvez Khattak invited the Chinese companies and businessmen to take advantage of investment-friendly atmosphere in the province for mutual benefits of the people of two countries.

“We have set the stage to begin journey of industrialization in the province and we need support of our ‘Iron brothers’ to put the province on the path of development and economic growth,” he added.

Appreciating the One Belt One Road Initiative announced by Chinese President, Xi Jinping, he said, the CPEC is a flagship component of the Initiative and stressed to further enhance business, cultural and social cooperation between Pakistan and China.

Terming Peshawar a key city on the Western route of CPEC, he said, it is located at a very strategic location connecting different regions.

While emphasizing the importance of the CPEC, President, China-Pakistan Friendship Association, Sha Zhu Kang said, the success of One Belt and Road Initiative is linked with the CPEC as it is pilot project of the Initiative.

Welcoming the audience, Ambassador Masood Khalid informed that around 86 projects including energy, agriculture and infrastructure would be presented for investment and cooperation.

He said the KP chief minister’s visit, second in the last four months, underscores the importance of CPEC and Pak-China relations.

Special Envoy on CPEC, Zafar Mahmood said the KP province offers best possible opportunities for investment and expressed the confidence that Chinese companies will take lead in tapping this advantage. INP