Chinese bringing in $1 billion investment in Gwadar, says Asad

By: News Desk      Published: 12:20 PM, 6 Jul, 2021
Chinese bringing in $1 billion investment in Gwadar, says Asad
Asad Umar making a statement on Balochistan projects.

Federal Minister for Planning, Development and Special Initiatives Asad Umar has said that people are taking interest in investment in Gwadar and the investment volume of Chinese investors is to the tune of $1 billion, reported 24NewsHD TV channel.

Talking to the media on Tuesday, Mr Umar said that the government would initiate development plans worth Rs1,200 billion under the head of the Public Sector Development Programme in Balochistan. 

While giving briefing on the South Balochistan package, the planning and development minister informed that Gwadar’s North Free Zone was 35% bigger than the Industrial Zone. The Chinese investors showed their resolve to invest copiously in this project. The Chinese intended to bring in $1 billion investment, he added. 

Mr Umar said that Prime Minister Imran Khan had announced a historic package for this area in November last. He revealed that from more than Rs600 billion package of South Balochistan, 53 projects had been included in the current development programme of the province.

The minister said that youth were provided up-to-date facilities of Internet. He was of the view that the development work of this magnitude had never been done before in Balochistan and added that it was Imran Khan’s government that had launched development projects in the province on a large scale. He stated that the development work was being carried out in the province with the help of the Balochistan government. 

Govt to complete Rs731b development schemes: Fawad 

Information and Broadcasting Minister Fawad Chaudhry said in his tweet on Tuesday that Pakistan had dismantled India’s terror network to a great extent in Balochistan. Now the government will chalk out an agenda for talks with (Baloch) nationalists, he said adding that the federal government would complete 131 development projects worth Rs731 billion in Balochistan. While the provincial government has set aside Rs180 billion for Balochistan only for this year. It’s because Balochistan is near the heart of PM Imran Khan, Fawad added.