Chinese govt, companies offer to invest $ 3 billion in Lahore Ravi City project

Gwadar Pro

Islamabad: Chinese government and companies have offered to invest $ 3 billion in the Ravi City project in Lahore, Prime Minister Imran Khan was told.
The investment, the PM was informed, did not include any kind of loan. Besides, ANGCC – a Global Investment Consortium, had also offered to invest $ 5 billion in the project on a partnership basis.

The prime minister, who was presiding over a meeting of the working group of Ravi Riverfront Urban Development Authority (RUDA) and Pakistan Islands Development Authority (PIDA), was told that in order to further speed up the progress on the Ravi City project, a board had been constituted and work on the project would start in January, said an official statement.

The meeting was attended by Minister for Information and Broadcasting Senator Shibli Faraz, Minister for Maritime Affairs Syed Ali Haider Zaidi, Special Assistant to the PM on Political Communication Dr. Shehbaz Gill, Naya Pakistan Housing Authority (NPHA) Chairman Lt General Anwar Ali Haider (retd) and Deputy Chairman Major General Ameer Aslam Khan (retd), and Pakistan Islands Development Authority Chairman Imran Ameen.

Sindh Governor Imran Ismail, Advisor to the Punjab Chief Minister Dr. Salman Shah, Special Assistant to the Punjab CM Dr. Firdous Ashiq Awan, RUDA Chairman Rashid Aziz, Punjab chief secretary, and senior officers concerned also attended the meeting through video link.
The Prime Minister stressed that Ravi City, being an unprecedented mega project and the first its kind, would address the increasing problems of Lahore.

Its completion would not only provide the facilities of potable water, appropriate sewerage, clean environment, and modern housing to the citizens of Lahore but also help create job opportunities and develop the local and national economy, particularly the industries through huge foreign investment.
About Pakistan Islands Development Authority, the prime minister was told that the environmental and master plan studies would start in January.

Besides, he was told that in partnership with the Non-Governmental Organizations (NGOs), a programme was being formulated to ensure the employment of fishermen related to the Islands and for the protection of maritime habitat.
Imran Khan, while expressing his satisfaction over the progress made on the Bundle Islands, stressed that all stakeholders would be taken on board for the success of the project.
Meanwhile, Special Assistant on National Security Moeed Yusuf said the cordial relations between Pakistan and China were setting the path of economic progress in the region.

Speaking to the Chinese Ambassador to Pakistan Nong Rong in Islamabad, he said China and Pakistan were united at all fronts and both countries are working jointly for regional development.

The Special Assistant said that Pakistan was focusing on economic diplomacy and economic security. He mentioned that Prime Minister Imran Khan has constituted an Economic Outreach Apex Committee for this purpose. The Chinese Ambassador said Pakistan and China enjoyed a strategic partnership.