Business community wants early completion of CPEC: Rauf Alam

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KARACHI, July 24 (APP): The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Sunday said that the business community wants early completion of game changer project of China-Pakistan Economic Corridor (CPEC) so that Pakistan can enjoy fruits of massive Chinese investment.

The President of FPCCI Abdul Rauf Alam said that the Chinese investment of $34 billion in Pakistan’s energy sector which is 76 percent of the total package, will end loadshedding forever and will turn the wheel of economy.

He said that business community of Pakistan is poised to offer all out cooperation to the Chinese companies involved in the CPEC project.

In a joint statement with Secretary General UBG Zubair Tufail, Rauf Alam said that masses and business community are looking at this project favourable while government has assured full security of the Chinese working of the project.

He said that FPCCI will play its role in creating synergies
between Chinese and local companies for which all the chambers of commerce will be taken on board.

The FPCCI President said that it is a great opportunity for
Pakistan which should be fully utilised as it is meant to provide economic advantage, a land route to China and integration with different nations.

The total funding offered by China to Pakistan under the CPEC is $46 billion of which $34.4 billion is allocated to energy sector to add over 17,000 MW to the national grid; $9.8 billion would be made available for transport related projects and $ 0.8 billion for Gwadar Port, he added.

The energy projects include over 7,000MW of coal-based power projects costing over $13 billion, Thar Coal Mining and Power project of 1,320MW costing $3.3 billion, hydropower projects of 1,590MW costing $3.2 billion, 1,000MW solar project costing $1.4 billion and wind power generation projects of 250MW costing $ 0.5 billion and transmission line projects of $ 3 billion.

He said that Pakistanis have the most favourable view of China and maintaining close relations with China is a central part of Pakistan’s foreign policy.

China has supported Pakistan through thick and thin and her
support has always remained without strings.