Islamabad Chamber of Commerce & Industry (ICCI) has greatly lauded the resolve of Chinese investors to invest around  $ 10 billion in power sector of Pakistan and said it will be a huge support to rid Pakistan of energy crisis & great economic losses.

Chairing a meeting of businessmen, Mr.Karim Aziz Malik, Acting President, ICCI said that Pakistan is endowed with plenty of coal, hydro, wind & solar energy potential. However, due to lack of capital and technology, the country could not exploit as yet these energy sources.

He said this is an area where China can help Pakistan by making maximum investment to fully exploit available energy sources. He said that China’s investment in different power projects in Pakistan like investing $ 2.6-billion at Kohala Hydel project to produce 1200 MW and    $8-billion in Bunji Dam to produce 7000 MW are very crucial steps to strengthen Pakistan.

Businessmen said that China has now become the second largest trading partner of Pakistan, which shows its great interest to supporting Pakistan’s economy. They said that China has made phenomenal progress in all sectors of its economy and close cooperation of Pakistan with China will significantly improve our economy. They said transfer of China’s technology, knowledge and expertise in different areas can put Pakistan on fast track economic growth.

Mr.Karim Aziz Malik hoped that signing of agreement on economic and technical co-operation and four MoUs will create more beneficial results for the economies and people of both countries.

He said Pakistan also offers unique investment opportunities, which include low cost & hard working labor, liberal incentives and access to huge markets of countries in the region. Therefore, China should take advantage of these opportunities by investing more in Pakistan.

He said hoped that the current visit of Asif Ali Zardari to China will open up many new avenues of friendship and cooperation between the two countries.