Contracts with China need review, Pakistani minister says

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ISLAMABAD - Pakistan's Minister for Power Awais Leghari says contracts with Chinese power producers that built and run power plants in Pakistan need to be revised.

Islamabad owes more than $15 billion to Chinese power plant operators. It is seeking rescheduling of payments to gain financial breathing room in a bid to obtain a much-needed loan from the International Monetary Fund.

'I think the terms and conditions that we already have with the Chinese as far as their IPPs [independent power producers] are concerned, they need another look,' Leghari told VOA in an interview this week.

The power projects, set up mostly in the last decade, helped end hours-long blackouts. But contracts require that Pakistan pay for the entire generation capacity of each power plant, regardless of how much electricity is used. A failure to spur industrial growth that could help utilize additional power, and the inability to reduce transmission losses, has left Pakistan with huge bills to pay for unused and wasted power generation capacity in addition to repaying project loans.

Leghari and Finance Minister Muhammad Aurangzeb went to Beijing late last month to discuss power sector debt relief.



I bet if they can broadcast this negotiation with iron brother, Pak can raise some serious dough.
 
25 leading Chinese firms willing to invest in Pakistan

In a recent Business Roundtable Conference in Beijing, 25 leading Chinese investment firms set their sights on Pakistan, signalling a wave of substantial investments across diverse sectors.

The Business Roundtable Conference was held in Beijing’s Chaoyang District 25 major Chinese investment companies have expressed their deep interest in investing heavily in Pakistan including agriculture, automobile, electrical alliances, pharmaceuticals, logistics, medical equipment and technology companies are included.

Federal Minister for Board of Investment, Privatisation and Communications Abdul Aleem Khan presided over this conference at the Pakistani Embassy in China. Country Director of Hong Kong Business Group Anna Su, Mayor of Daming County, Li Shuang, Chief Advisor Qin Linzheng, Deputy Mayor Sun Deshi, Group President of Lianghao, Li Hui, Qin Linz Heng and Ambassador of Pakistan to China Khalil Hashmi addressed the conference.

The conference discussed the cooperation between China and Pakistan and various MOUs were signed in the fields of textile technology, agriculture and animal husbandry. The Director of Trade City Administrative Commission Qu Zong Kuan also delivered a speech.


 
25 leading Chinese firms willing to invest in Pakistan

In a recent Business Roundtable Conference in Beijing, 25 leading Chinese investment firms set their sights on Pakistan, signalling a wave of substantial investments across diverse sectors.

The Business Roundtable Conference was held in Beijing’s Chaoyang District 25 major Chinese investment companies have expressed their deep interest in investing heavily in Pakistan including agriculture, automobile, electrical alliances, pharmaceuticals, logistics, medical equipment and technology companies are included.

Federal Minister for Board of Investment, Privatisation and Communications Abdul Aleem Khan presided over this conference at the Pakistani Embassy in China. Country Director of Hong Kong Business Group Anna Su, Mayor of Daming County, Li Shuang, Chief Advisor Qin Linzheng, Deputy Mayor Sun Deshi, Group President of Lianghao, Li Hui, Qin Linz Heng and Ambassador of Pakistan to China Khalil Hashmi addressed the conference.

The conference discussed the cooperation between China and Pakistan and various MOUs were signed in the fields of textile technology, agriculture and animal husbandry. The Director of Trade City Administrative Commission Qu Zong Kuan also delivered a speech.


are these investments? CPEC was supposed to be investment, but turned out to be outrageously guaranteed return loans
 
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