Pakistan, China agree to expand CPEC project

Islamabad: Pakistan and China have agreed to expand China-Pakistan Economic Corridor (CPEC) project.

The understanding came at a meeting between Prime Minister Shehbaz Sharif and Chinese Premier Li Keqiang in Beijing on Wednesday.

They also agreed to the early completion of CPEC related projects and held discussion on promoting bilateral cooperation.

Following the meeting, both sides also signed agreements for cooperation in diverse fields.

On arrival at Great Hall of People, the Prime Minister was given a guard of honor.

On the other hand, Chinese companies have evinced keen interest in investment and joint ventures in Pakistan.

During a meeting with Prime Minister Shehbaz Sharif in Beijing, they also accepted the invitation to invest in mega projects including Karachi clean drinking water project.

The Prime Minister invited the top ranking Chinese companies to visit Pakistan and offered them to jointly work on his government's initiative of generating ten thousand megawatts of electricity through solar.

The Prime Minister stressed for accelerating pace of work on Gwadar airport. The Chinese side assured to complete the project by the beginning of next year.

Shehbaz Sharif said ever since assuming office, he has removed hurdles faced by the companies.  He said we have paid the outstanding amount of one hundred and sixty billion rupees to the Chinese companies. Fifty billion rupees were paid yesterday and a revolving fund of fifty billion rupees has also been established.

The Prime Minister assured to resolve problems pertaining to acquisition of land for Diamer Basha Dam.

Referring to Dasu Hydropower project incident, Shehbaz Sharif said the perpetrators have been arrested and they will be given exemplary punishment.

The Prime Minister thanked the Chinese companies for showing interest in ML-1 and other projects. He was also appreciative of Chinese side for extending a helping hand to the flood victims.