LAHORE - An agreement was signed between Punjab government and prominent Chinese company in energy sector ZTE for cooperation in setting solar power plant, on Sunday, says a press release
Chief Minister Punjab Muhammad Shahbaz Sharif, Secretary Energy, President of Chinese company Yu Yong and other officials were present on the occasion.
Secretary Energy and Vice President of ZTE signed the document. Under the agreement, the Chinese company will set up a 500 megawatt solar power plant. Initially, the Chinese company will establish a 300 megawatt solar power plant which will later be extended to 500 megawatt capacity. ZTE will set up solar power plant in Quaid-i-Azam Solar Park Cholistan and the project will be completed within a year. Punjab government will extend all out assistant and facilities to the Chinese company for this purpose.
Addressing the ceremony, Chief Minister Muhammad Shahbaz Sharif said that Pakistan Muslim League-N government is taking speedy measures for resolving energy crisis and agreements are being reached with several Chinese companies for launching power generation projects while steps would be taken expeditiously for their implementation.
He said that the arrival of Chinese companies and investors to Pakistan after the visit of Prime Minister Muhammad Nawaz Sharif to China is a good omen and investment by Chinese companies and investors in energy sector augurs well. Shahbaz Sharif said that China is a trusted friend of Pakistan and has supported Pakistan in every hour of need. He said that the cooperation of China in energy sector is a glorious example of Pak-China friendship. The Chief Minister said that five memorandums of understanding were signed with Chinese company.
He said that agreements show that Pak-China friendship is higher than Himayalas, deeper than seas and sweeter than honey. He said that former rulers displayed criminal negligence by disregarding energy sector and therefore the nation is plunged in darkness today while agriculture, industrial and economic sectors are facing negative effects. He said that PML-N government made solution of energy crisis its top priority and steps are being taken on war footing for resolving this issue. He said that electricity is essential for investment in the country. He said that PML-N government will fulfill its promise made to the nation of resolving energy crisis. President ZTE, Yu Yong said that all out cooperation will be extended to Pakistan in energy sector and rapid progress will be made towards implementation of the agreement. Later, Chief Minister Shahbaz Sharif hosted a dinner in honour of the members of ZTE delegation.
Meanwhile, Punjab Chief Minister Muhammad Shahbaz Sharif has said that energy crisis has left a negative impact on economic and trade activities and the government is taking measures on war footing from the very first day for resolving this problem. He said that electricity is essential for foreign investment and prosperity of the country. He said that Punjab government has evolved a comprehensive roadmap for the speedy implementation of power generation projects and rapid progress is being made in this direction. He said that foundation stone of Quaid-i-Azam Solar Park to be set up over an area of 7500 acre in Cholistan will soon be laid which will not only bring about a revolution in solar energy sector but all out facilities will also be available to foreign investors.