LAHORE - Punjab Chief Minister Shahbaz Sharif has said that the visit of Chinese President is a good omen for Pakistani people and we are ready to accord him a warm welcome.

He was talking to delegations of heads of Chinese development agencies, investment companies, financial institutions and banks, who called on him in Murree on Sunday.

The Chief Minister said that Pak-China relations have always been exemplary and touched historic heights in this tenure of PML-N government.

A Memorandum of Understanding (MoU) was also signed between Punjab government and Industrial and Commercial Bank of China (ICBC), the largest bank of the world.

The chief minister was the chief guest on the occasion, accompanied by ICBC Chairman Jiang Jianqing.

According to the agreement, the Industrial and Commercial Bank of China will provide technical cooperation in various sectors including garments, auto assembling, cement, iron and steel and electric items in Punjab whereas the bank will also provide financial facilities to the Punjab government.

ICBC will also provide consultative services to Punjab government in foreign investment sector.

Welcoming the agreement, Shahbaz Sharif said this agreement will play a key role in the promotion of investment to be made with the cooperation of China.

It may be mentioned that the ICBC bank having assets of more than three trillion dollars is the biggest bank of the world.

Talking to Chinese investors, Shahbaz Sharif said that the entire world is astonished over the announcement of investment of 46 billion dollars by China in Pakistan. No doubt, there is no example of such extraordinary investment in the history of the country, he added.

“The historic agreements to be signed during the visit of the Chinese president also include 20 billion dollars only for energy sector,” the chief minister announced.

After completion of energy projects by the end of 2017, 10400 megawatt more electricity will be generated which will help in overcoming energy crisis, he further said.

Also on Sunday, documents of agreement regarding up-gradation of transmission line were exchanged between NTDC and Chinese Company. According to this agreement, the transmission line will be expanded for supply of 900 megawatt solar energy from Quaid-e-Azam Solar Park.

Speaking on the occasion, the chief minister said that besides increasing electricity production, up-gradation and expansion of transmission line is equally important as up-gradation of transmission line for power supply. The up-gradation of transmission line will be completed on fast track before generation of electricity, he added.

Shahbaz Sharif also said that Pakistanis will forever remember the extraordinary cooperation and historic role of China for resolving energy crisis. Due to the Chinese President’s visit, new era of development and prosperity will usher in Pakistan, he further hoped.

Lauding the progressive efforts of the chief minister, the Chinese investors said that Shahbaz Sharif greatly promoted the Pak-China cooperation.

“We are working here while considering Pakistan as our home,” the head of Chinese delegation, Shanghai Electric Corporation president, said.