China is playing reinvigorated role in overcoming the energy crisis in Pakistan by extending technical support for the production of cheap, environment-friendly and sufficient electricity along with affordable financing by the Bank of China, said Mr Xianqing Luo, the director sales of a Chinese company.

Addressing a function in Faisalabad Chamber of Commerce and Industry auditorium along with his technical team, the Megawatt New Energy Technology Company director said that it was in the process of installing 10,000 solar pumps ranging from 4-7.5 KW in Balochistan. “We have a scheduled meeting with the Punjab chief minister also to discuss similar options for the province of Punjab”, he added.

He said that the firm was offering solar irrigation, on-grid and off-grid system in addition to water purification plants. Regarding solar system, he said, the technology was very cheap and the existing system could also be converted on the solar system. The company has already installed solar system in 40 countries including Turkey, Botswana, Chine and Ghana, he added.

Welcoming the Chinese delegation, Engr Rizwan Ashraf said that Pak-China Friendship is time tested, and that the recent visit of Chinese President had clearly indicated that new economic centres were emerging in the region. The investment of US$ 45 billion has also changed the image of Pakistan as one of the most lucrative investment destination and now the international community was also considering investing in Pakistan, he said.

He told the delegation that Faisalabad is the hub of textile industry contributing 60 percent of the total textile exports of the country. “However, during last few years, we are facing acute shortage of energy and most of our industries are working on half of their installed capacity,” he said. He added that Chinese investment will not only resolve energy crisis but also gear up the pace of development.

He said that Almighty Allah has blessed Pakistan with unlimited resources of such as sunshine, wind and water. There is need to channelise these resources and get maximum benefit from these gifts of the nature.

MAT Business Solution/Mega Engineering Group Director Mr Amjad Saleem said that the Chinese company will not only provide technology but also extend loan on easy installments through Bank of China. This will include 70 percent financing and 30 percent investment with a markup of rate of 9 percent.

A presentation was also given on various projects, technological breakthrough and financial offers of the Megawatt New Energy Technology Company. The function was also addressed by President Sahiwal Chamber of Commerce & Industry Sohail Ansari who invited the Chinese delegation to visit Sahiwal.

Muhammad Amjad Khawaja of Khawaja Cotton explained his personal experience of Solar Energy system in his factory, and said that it is very beneficial but one time investment is a major issue.

The function was also addressed by Director Technical Mr Zhao Yan, General Manager Sales Ms Chunjuan Nie, Inam Afzal Khan, Abdul Qayyum Sheikh and Mian Abdul Waheed.