Pakistan Invites Chinese Companies to Invest in Solar Parks
Pakistan Invites Chinese Companies to Invest in Solar Parks

The Caretaker PM of Pakistan, Anwaarul Haq Kakkar, addressed the 3rd Belt and Road Forum (BRF) for International Cooperation conference in China. The caretaker PM met several world leaders, including Chinese President Xi Jinping and Russian President Vladimir Putin.

To strengthen the energy linkage between Gilgit and Xingiang region, he invited Chinese companies to invest in solar parks of Pakistan. The caretaker PM also highlighted that by investing in Solar Parks, China can help Pakistan reduce energy and financial crises while fighting against climate change.

“Investments in solar parks would benefit two-fold. On one hand, they will support Pakistan’s endeavors for climate action and also help reduce energy import bills.” He stated.

He underscored while addressing the leading Chinese think tanks and scholars that Pakistan is already taking measures to increase its renewable energy share to sixty five percent by 2030.

Mr. Anwaarul Haq Kakker also applauded the Pak-China strategic collaboration mentioning the fruitful output of CPEC. He further added that since 2015 (the launch of CPEC) the project resulted in addition of 800 kilometers of roads, and creation of 8,000 megawatt electricity, and 0.2 million job opportunities.

Moreover, Pakistan and China signed an MoU for investment worth $1.5 billion in the petroleum sector. The parties that signed the MoU were Pakistan Refinery Limited and United Energy Group of China. The MoU focuses on increasing petrol production capacity of the refinery from 250,000 metric tons to 1.6 million metric tons and high-speed diesel from 0.6 million metric tons to 2 million metric tons.

The caretaker PM of Pakistan signed MoU in areas of commerce, communication and transport including MLI, connectivity food security & research, media exchanges, space cooperation, urban sustainable development, capacity building, mineral development and industrial cooperation, climate change, vaccine development.