The Khyber-Pakhtunkhwa(KP) government has signed Memorandums of Understanding (MoUs) for 82 projects worth more than Rs2.4 trillion with Chinese companies in the recently-held K-P Economic Cooperation Road Show (KECRS) organised by the provincial government.
The province’s team was led by Chief Minister(CM) Pervez Khatak who visited China where the show was arranged between April 16-18 aimed at offering investment opportunities to Chinese state-owned and private business enterprises.
Briefing the media persons about the visit here on Tuesday, Chief Minister Khatak said: “A total of 82 schemes worth over Rs2.4 trillion … have been signed with Chinese companies which will usher in an era of economic revolution,” said Khatak.
Highlighting various aspects of the roadshow, the CM said that the K-P government owned the CPEC but some people still thought the K-P government was against CPEC because of various issues on the project’s western route.
Terming it important, the CM said that none of the projects would require any loans, adding that these projects would not become a burden on the government.
According to details, four MoUs worth $60 million had been signed in agriculture, archaeology and culture sectors while 11 projects were signed worth $7,427.5 million in the energy and power sector.
Documents also showed that 19 projects worth $393.7 million had been signed in the higher education sector, seven in housing sector worth $3332 million. Likewise, $5,704 million worth of 12 projects were signed in industrial sector while seven other MoUs worth $245.2 million had been signed in the information and technology sector.
Two more MoUs were signed in the local government sector, three in mines and minerals, nine in roads, and one each in urban development and transportation sectors and three projects had been signed for improving urban sanitation.
Khatak said that Chinese companies were mainly concerned about the law and order situation in the province and investment security.
“But we have convinced them that the province’s security situation is now far better than the past and everyone can invest safely in the region.”
He said contingents of more than 4,000 security personnel had been established for CPEC-related projects. The Chief Minister said that after signing the MoUs, the government was looking forward to materialise the projects. For this purpose, the chief minister said, the K-P government would arrange a summit next July and investors from China will be invited to the summit.