Zardari assures Chinese investors of government''s full support

President Asif Ali Zardari has said that Pakistan was facing difficulties in meeting its energy requirements and the government was focused on building mega hydropower projects to meet energy requirements of the country. The President also directed that procedural formalities concerning Guddu and Uch transmission line projects should be completed in time so that agreement in this regard could be signed in September this year.
President Zardari was talking to the delegation of a Chinese leading company dealing in power transmission projects at the Aiwan-e-Sadr on Wednesday. The delegation was headed by Ye Jun, the head of the company, TBEA. He was accompanied by Country representative of TBEA in Pakistan, Zhou Liliang and Chen Qinliang. The Pakistan side included Syed Naveed Qamar, Federal Minister for Water and Power, Secretary General M Salman Faruqui, Secretaries Finance and Economic Affairs divisions, Chairman Wapda Shakeel Durrani, and other senior officials.
President Zardari appreciated TBEA''s $3.5 billion agreement with Pakistan''s National Transmission and Despatch Company and China Development Bank to supply transmission equipment to Pakistan. He also welcomed the company''s interest in acquiring Heavy Electrical Complex saying that the greater business ventures of the company in the country would contribute to further strengthening of Pak-China relationship.
The President said that the energy sector was one of the most important sectors where Pakistan needed assistance and co-operation of Chinese friends. "We need to revamp existing transmission lines and build new ones for efficient transmission on one hand and to reduce line losses on the other," Zardari said adding that the contribution of TBEA in this regard would be significant.
President Zardari reiterated the government''s full support and facilitation to the intending investors and businessmen, especially the Chinese investors. He assured that the government would ensure complete security to them. Ye Jun thanked President Zardari for the meeting and assured that TBEA would continue to make its contributions in assisting Pakistan in the energy sector.