Category : Latest News Source : Pakistan Today Date : 17-05-2017
Chief Minister of Punjab, Shahbaz Sharif, met with the President of EXIM Bank of China, Liu Liange. They discussed the importance of CPEC in terms of the OBOR initiative, which would help the developing countries to progress. Discussing the Lahore Orange Line Metro project the CM ensured that work is in progress on a fast track and that efforts are made to make the project as transparent as possible. The president of Exim Bank showed satisfaction over the progress of CPEC projects. An agreement was signed for Pakistan Remote Sensing Satellite Project.
While talking to the President of Exim Bank, the chief minister said that the CPEC is the most vital part of the One Belt, One Road Project (OBOR) and maintained that the positive impacts of the project will be felt at the international level. OBOR, the CM added, is the reflection of the political acumen and the farsighted vision of the Chinese President Xi Jinping. The CM was of the view that the project would help the developing countries to progress.
While talking about the Lahore Orange Line Metro Train Project, the chief minister said that efforts are being made to complete the project expeditiously. Due to some legal complexities, he added, the project’s completion might be delayed, but every effort would be made to remove the backlog as soon as the court’s permission is granted to continue with the project. He said that quality and transparency has been ensured in the projects initiated in collaboration with China, in Pakistan, especially in the Punjab.
The coal power plant set up in collaboration with China in Sahiwal, the CM informed, has started generating electricity; work on other projects is in progress. I have been personally supervising the development in the projects, he added. He said that every penny received from China is being utilized as a sacred trust.
The President of Exim Bank of China told the chief minister that the Punjab government has met the expectations of the Chinese financial institutions in regards to the quality, transparency and speed with which the projects are being carried out. He assured the chief minister that financial cooperation with Punjab will continue in the future as well.
The chief minister presented an album of photographs to the president, showing him the work in progress on different development projects in the province including energy and infrastructure related projects.
The President of Exim Bank appreciated the development on projects in the Punjab and lauded the performance of the chief minister.
In the presence of the chief minister and president Exim Bank, agreement on governmental soft loans was signed for Pakistan Remote Sensing Satellite Project between Ministry of Finance, Revenue, Economic Affairs, Statistics and Privatization of Government of Pakistan and the Exim Bank of China.