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CPEC

China, Pakistan expand cooperation in CPEC projects

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CPEC projects

BEIJING: China and Pakistan have expanded cooperation under the China-Pakistan Economic Corridor (CPEC) and made notable progress in multiple areas such as green, information technology, industrial development and health. This was stated by Chinese Foreign Ministry Spokesperson Mao Ning while addressing a regular press briefing in Beijing on Monday. “CPEC is the flagship project for … Read more

PM Shehbaz, Chinese Premier agree on CPEC’s expansion

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Chinese

Prime Minister Shehbaz Sharif met with Chinese Premier Li Keqiang The two sides also held delegation-level talks to strengthen mutual cooperation. PM Shehbaz Sharif also met Chinese President Xi Jinping BEIJING: Prime Minister Shehbaz Sharif on Wednesday met with Chinese Premier Li Keqiang and agreed to expand the China-Pakistan Economic Corridor (CPEC) besides ensuring the … Read more

Dar reaffirms resolve to fully implement CPEC projects

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ishaq dar

ISLAMABAD: Ambassador of the People’s Republic of China Nong Rong called on Minister for Finance and Revenue Senator Ishaq Dar and discussed bilateral issues. Dar reaffirmed the government’s resolve to successfully implement the China-Pakistan Economic Corridor (CPEC) project as it will play an important role in taking the local economy forward as well as cementing … Read more

COAS efforts brought positive results to the country: ISPR

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COAS efforts

RAWALPINDI: Chief of Army Staff (COAS) General Qamar Javed Bajwa’s efforts brought positive results to the country as the Peoples Republic of China announced to give aid of 500 Million Yuan for the flood victims, Inter-Services Public Relations (ISPR) released a statement.

As per the details, COAS arrived in Beijing on a two-day visit where matters of defense cooperation and other interests were discussed. “China gives great importance to its relations with Pakistan,” said the Chinese Defense Minister General Wei Fenghe during the meeting.

Chinese Defense Minister expressed hope for timely completion of the CPEC project. General Wei Fenghe also thanked Army Chief for providing a safe environment for China-Pakistan Economic Corridor (CPEC) projects, ISPR mentioned.

Chinese Defense Minister thanked Army Chief for special measures for regional stability efforts, according to ISPR.

The government of China will provide 300 million Yuan for the flood affectees, whereas the People’s Liberation Army will give 100 million Yuan to assist the affectees. China will also provide 100 Million Yuan aid on a humanitarian basis. The total aid of 500 million Yuan makes up to 15.8 billion in Pakistani rupees ($71.3 million), ISPR mentioned.

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CPEC so far completed 27 projects totaling $19 bn, with 63 more projects worth $35.2 bn to be completed by 2030

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CPEC

The CPEC has so far completed 27 projects totaling $19 billion, with 63 more projects worth $35.2 billion slated to be completed by 2030. Three $200 million projects have already been constructed in Gwadar and two $230 million projects are set for completion. The China-Pakistan Economic Corridor (CPEC) has so far completed 27 projects totaling … Read more

Matiari-Lahore transmission line ensure stable power supply for flood hit area in Pakistan

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  • Matiari to Lahore ±660 kV High Voltage Direct Current (HVDC) Transmission Line Project is surely providing stable power supply for households
  • Under the impact of severe floods, water logging appeared in some low-lying areas around two converter stations of Matiari and Lahore

BEIJING: As one of the key projects of China-Pakistan Economic Corridor (CPEC), Matiari to Lahore ±660 kV High Voltage Direct Current (HVDC) Transmission Line Project is surely providing stable power supply for households, key customers, and public services during Pakistan’s flood season.

Under the impact of severe floods, water logging appeared in some low-lying areas around two converter stations of Matiari and Lahore. As the water level rises, especially the Indus River, about 3 kilometers west of the Matiari station, will see its upstream flood peaks in the next few days. In this situation, the management office of the project actively organized flood prevention preparations to ensure the safe and stable operation of HVDC equipment and power supply, CEN reported.

The project staff tracked changes in flood situation through a variety of channels, analyzed geographical location, natural environment, and hydrogeology, paid close attention to the weather and flood dynamics, and took round-the-clock water standing monitoring in the station area, aiming to report and deal with the possible danger in the first place.

They focused on the preparation of flood control materials, drainage facilities, and emergency power supplies, and re-tested the emergency pump function to ensure that it was in a real-time standby state. They also improved the flood control facilities in relevant stations and placed sandbags to prevent floods from the equipment areas.

In addition, the project carried out flood control emergency drills to ensure that all staff could have a solid grasp of flood control knowledge and respond quickly, effectively, and orderly to devastating floods.

Early this month, the project marked its first anniversary of commercial operation. Despite unfavorable weather conditions, the project maintained a safe and stable operation for 365 days with an availability rate of 99.84% over the past year. During the period, it provided consistent, high-quality, and clean electricity for nearly 10 million local households, and its cumulative electricity transmission amount reached approximately 12.7 billion KWH.\

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Orange Line Metro Train to become solar

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Orange Line Metro Train
  • The Orange Line Metro Train (OLMT), Lahore’s first urban train system, would be solarized to lower the city’s yearly power expense of more than Rs 1.9 billion
  • MAT’s General Manager (operations), Ozair Shah, stated that energizing OLMT with a solar system is unavoidable since the per unit cost of electricity ranges between Rs. 18 and Rs. 21
  • Many conceptual concepts are in the works to realize a solar system for the Metro Train while balancing their benefits and drawbacks

LAHORE: The Orange Line Metro Train (OLMT), Lahore’s first urban train system, would be solarized to lower the city’s yearly power expense of more than Rs 1.9 billion.

The Chinese contractor CR-NORINCO, a joint venture between China State Railway Group (CR) and China North Industries Corporation (NORINCO), turned over the train to the Punjab Mass Transit Authority (PMAT) in 2020.

In an interview, PMAT’s General Manager (operations), Ozair Shah, stated that energizing OLMT with a solar system is unavoidable since the per unit cost of electricity ranges between Rs. 18 and Rs. 21, which is insufficient to run the complete function of OLMT for an extended period.

Many conceptual concepts are in the works to realize a solar system for the Metro Train while balancing their benefits and drawbacks, he noted.

“One of the proposals is to construct a solar plant with a capacity of 50 MG or 70 MG.” “Instead of utilizing regular electrical apparatus, the solar plant will activate an input-to-output mechanism via WeLink to power up OLMT,” he stated.

The overall ridership of OLMT has surpassed 20 million since its inception. It has fulfilled advanced international operating requirements with 90,000 train journeys spanning a total distance of 12 million kilometers, with trip efficiency of 99.9% and punctuality of 99.9%. The Orange Line Metro Railway Project features 26 stations and a track length of over 27 kilometers.

Furthermore, people’s travel efficiency has substantially improved, with the full route being shortened from 2.5 hours to 45 minutes. Furthermore, the operation of the orange line contributes to the reduction of the use of outdated automobiles within the city, the reduction of gas emissions, the improvement of environmental pollution, and the promotion of the city’s green and sustainable growth.

The Orange Line Metro is powered entirely by electric energy, resulting in zero pollution and zero emissions. It is expected that the annual gas emissions from fuel will be decreased by 30,000 tonnes.

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Govt committed to unlocking full potential of CPEC projects: PM

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CPEC projects

ISLAMABAD: Prime Minister Shehbaz Sharif underlined the government’s commitment to unlocking the full economic and connectivity potential of China Pakistan Economic Corridor (CPEC) projects. The prime minister received the Chinese Ambassador to Pakistan Nong Rong at the PM House. He emphasised the importance of key projects including Main Line One (ML-1) and Karachi Circular Railway … Read more

CPEC offers huge potential to local truck business

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KARACHI: The China-Pakistan Economic Corridor (CPEC) offers a huge business opportunity to Pakistan’s logistic companies in the areas of truck operations, an official said. TCS Private Limited Chief Executive Officer Haris Jamali said that the government is working with the private sector to enhance the logistic network via road links in regional countries to tap … Read more

China, Pakistan discuss CPEC expansion to Afghanistan

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CPEC expansion to Afghanistan.
  • Ambassador Yue Xiaoyong met with Foreign Secretary Sohail Mahmood in Pakistan.
  • The political and security situation in Afghanistan was discussed.
  • Only a peaceful, stable, connected Afghanistan could serve as a hub for improved regional trade and connectivity.

Senior government representatives from Pakistan and China discussed Monday how to expand the China-Pakistan Economic Corridor (CPEC) to Afghanistan in order to advance the prosperity and economic growth.

Ambassador Yue Xiaoyong, China’s special representative for Afghanistan, met with Foreign Secretary Sohail Mahmood. The political and security situation in Afghanistan was discussed, as well as Pakistan’s and China’s humanitarian aid to Afghanistan and other topics of shared interest.

In order to alleviate the financial burdens of the Afghan people and support the development of a sustainable economy, the foreign secretary further emphasized the significance of defrosting Afghanistan’s foreign reserves and facilitating banking operations.

The foreign secretary emphasized once more how crucial it was for Afghanistan to meet the demands of the international community in terms of inclusivity, respect for all Afghans’ rights, particularly girls’ education, and effective counterterrorism measures.

The foreign secretary emphasized that, notwithstanding what is happening elsewhere, the international community’s attention should not be taken away from the catastrophic situation in Afghanistan.

The foreign secretary emphasized the importance of ongoing constructive engagement and practical cooperation with the interim Afghan authorities while also highlighting the crucial role that organizations like Troika Plus and the Six Neighboring Countries of Afghanistan play in advancing common objectives.

Ambassador Yue Xiaoyong was grateful for Pakistan’s significant and positive contribution to the Afghan situation. Only a peaceful, stable, and connected Afghanistan could serve as a hub for improved regional trade and connectivity, according to both sides.

 

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Miftah assures support for completion of CPEC projects

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ISLAMABAD: Federal Minister for Finance and Revenue Miftah Ismail has assured complete support for the completion of the China-Pakistan Economic Corridor (CPEC) projects. The federal minister met Pangchunxue, Charge d’Affaires of the Embassy of China, in Islamabad and discussed a wide range of bilateral issues. Minister for State Dr Ayesha Ghaus was also present. The … Read more

Miftah Ismail lauds Bank of China’s contribution to financial, economic progress

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Miftah Ismail

ISLAMABAD: According to a news release released on Monday, Wang Jie, Country Head, and CEO of Bank of China Pakistan Operations, met with Federal Minister for Finance and Revenue, Miftah Ismail, at the Finance Division.

Ismail welcomed Jie and emphasised Pakistan-strong China’s economic and brotherly ties.

He also praised the Bank of China’s assistance to Pakistan’s financial and economic development.

Read More: IMF asked for “tough budget,” says Miftah Ismail

He was also promised the government’s full support and cooperation by the finance minister.

Jie gave the minister an overview of the bank’s portfolio and expressed gratitude for the government’s support.

The meeting also included a discussion of the present global and regional economic conditions. They also discussed Pakistan’s economy and foreign direct investment policies.

The CPEC was also discussed, with it being said that the corridor will serve as another milestone in consolidating Pakistan-China bilateral economic and fraternal relations, bringing prosperity to both countries.

For the latest Business News Follow BOL News on Google News. Read more on Latest Business News on oldsite.bolnews.com

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Pakistan wants Turkey to be part of multibillion-dollar CPEC project

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CPEC

KARACHI: Pakistani Prime Minister Shehbaz Sharif proposed on Friday that the multibillion-dollar China Pakistan Economic Corridor (CPEC) be expanded to include Turkiye. Sharif said developing the CPEC into a trilateral project with Pakistan, Turkey, and China will be advantageous for the region while speaking at a ceremony in Karachi to launch PNS Badr, the third … Read more

Pakistan briefs ASEAN conciliatory missions on CPEC

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Foreign Affairs

The Ministry of Foreign Affairs on Friday facilitated a preparation on the China-Pakistan Economic Corridor (CPEC) for occupant conciliatory missions of Association of Southeast Asian Nations (Asean) part nations. Islamabad shared the basic vision of CPEC which tries to work on local availability, says Foreign Office. Led by the extra secretary (Asia-Pacific), the board of … Read more

BLA turn their sights on China

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In Pakistan’s southwest region of Balochistan – the country’s largest province by area but least populous and least developed despite having huge mineral and energy resources – there is a battle being waged for independence. The Baloch have grievances against the Pakistan government, which has historically exploited the province’s resources and neglected its development needs. … Read more

Pakistan to continue its efforts to enhance cooperation with China through CPEC: FM Bilawal

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Bilawal Bhutto Zardari

ISLAMABAD: Foreign Minister Bilawal Bhutto Zardari underlined Pakistan’s commitment to deepening its All-Weather Strategic Cooperative Partnership with China by expediting the construction of the China-Pakistan Economic Corridor (CPEC). The Foreign Minister was speaking at the Group of Friends of the Global Development Initiative’s High-Level Meeting, which was conducted virtually in New York. Bilawal Bhutto Zardari … Read more

Ahsan Iqbal commits to ensure foolproof security of CPEC

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Ahsan Iqbal commits to ensure foolproof security of CPEC

ISLAMABAD: Minister for Planning, Development and Special Initiatives, Ahsan Iqbal has vowed to provide foolproof security to China-Pakistan Economic Corridor (CPEC) project. He said in an interview with a private news channel that the country’s enemies aimed to destabilise the country by creating obstacles to the effective completion of the game-changing CPEC project. Read more: … Read more

CPEC Karot Hydropower Project hoists its fourth rotor

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CPEC

The Karot Hydropower Project, the first hydropower project under China Pakistan Economic Corridor (CPEC), achieved a major milestone towards the commercial operation date (COD) as it successfully hoisted its 4th and final rotor at the powerhouse. Read more: FM reaffirms to strengthen Pak-China bilateral ties The rotor is an important component used for the excitation function, … Read more

Chinese FM makes four-point proposal on China-Pakistan relations

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Qureshi

ISLAMABAD: Chinese State Councilor and Foreign Minister Wang Yi said on Monday that China and Pakistan were committed to enhancing their strategic coordination and pragmatic cooperation. Speaking at a joint press conference with Pakistani Foreign Minister Shah Mahmood Qureshi, Wang said he is paying his first visit to Pakistan since the outbreak of the COVID-19 … Read more

Hot stocks

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hot stocks

Habib Bank’s earnings up 13% The Habib Bank Limited (HBL) announced the earnings for 2021 at Rs35 billion, depicting a surge of 13 per cent. The jump in the earnings on a yearly basis is primarily due to reduced provisioning charges, as last year saw elevated expenses, as part of building general coverage along with … Read more

‘Chinese-funded companies in Pakistan committed to corporate social responsibility’

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ISLAMABAD: Pakistan’s State Minister for Information and Broadcasting Farrukh Habib said that the Chinese-funded companies operating in Pakistan are strongly committed to corporate social responsibility. Read more: Upcoming CPEC projects expected to attract $28 billion: official Chinese-funded corporations, including those working on projects under the China-Pakistan Economic Corridor (CPEC), are playing a very responsible role … Read more

SEZ in Sindh to offer 200,000 job opportunities, says official

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Dhabeji special economic zone

ISLAMABAD: The Dhabeji special economic zone (SEZ) under the China-Pakistan Economic Corridor (CPEC) in Sindh will offer over 200,000 direct and indirect job opportunities, Chief Minister of Sindh Syed Murad Ali Shah has said. The SEZ is being developed through a private partner at a cost of Rs18 billion (over $102 million) to provide “plug … Read more

Right on track

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cpec

ISLAMABAD: Prime Minister Imran Khan’s much-anticipated visit to Beijing has not only cleared the ambiguities over the viability of the China-Pakistan Economic Corridor (CPEC) projects, but also attracted investment worth billions of dollars in various sectors. During the visit, the two sides also chalked out a plan for CPEC’s Phase-II, which involves huge incentives for … Read more

Deal signed to promote scientific and technological exchanges

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technology

KARACHI: The Special Technology Zones Authority (STZA) of Pakistan and a Chinese association have signed a Letter of Intent (LOI) to promote high-quality science and technological exchanges between China and Pakistan, a statement said. Zhongguancun Belt and Road Industrial Promotion Association of the People’s Republic of China (ZBRA) President Zhang Xiaodong, and STZA Chairman Amer … Read more

Unisame urges government to consult SME sector in policy formation

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SME

KARACHI: The Union of Small and Medium Enterprises (Unisame) has urged the Federal Minister for Industries and Production Khusro Bakhtiar to take the SME sector on board for consultation in the industrial policy formation, a statement said. Unisame President Zulfikar Thaver said that the Small and Medium Enterprises (SMEs) are the back forte of the … Read more

Pakistan, China ink framework agreement on industrial cooperation under CPEC

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China Road & Bridge Corporation

ISLAMABAD/BEIJING: Pakistan and China on Friday inked the Framework Agreement on Industrial Cooperation under China Pakistan Economic Corridor (CPEC). The prime minister reached Beijing on Thursday to attend the opening ceremony of the Winter Olympics and meet the Chinese leadership. Read more: Prime Minister Imran Khan says CPEC delivering tangible benefits State Minister and Chairman … Read more

PM Imran Khan reaches Beijing on ‘significant’ four-day visit

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Prime Minister (PM) Imran Khan has arrived in Beijing on a four-day official visit to attend the ceremony of the Winter Olympics and meet the Chinese leadership. He is accompanied by Foreign Minister Shah Mahmood Qureshi, Finance Minister Shaukat Tarin, Planning and Development Minister Asad Umar, Information and Broadcasting Minister Chaudhry Fawad Hussain, National Security … Read more

Turbat students protest against PMC rules, threaten to block CPEC highway

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TURBAT: Medical Alliance Committee Kech rallied in front of Atashad Degree College, with the support of Civil Society Turbat in which female students and members of Civil Society Kech participated in large numbers and chanted slogans against the PMC rules.    “It is against law to take a double test from them,” the participants of … Read more

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