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Work on C-Pack slowed, Chinese companies became troubled Chinese companies have expressed dissatisfaction with the poor performance of C-Pack over the past three years

Friday, September 17, 2021

news world

ISLAMABAD (news world Latest. September 17, 2021): Work on the Pak-China Economic Corridor has slowed down, which has put Chinese companies in trouble. According to details, a Senate panel expressed concern over the slow progress on the Pak-China Economic Corridor (CPEC). The panel also lamented that Chinese companies had expressed dissatisfaction with the poor performance of C-Pack over the past three years, according to a report in the national newspaper Dawn News.
Presiding over the Senate Standing Committee on Planning and Development, Saleem Mandviwala, chairman of the committee, said China was not satisfied with the pace of work on C-Pack and no progress had been made on the portfolio in the last three years.

"They are crying," he said, adding that the Chinese ambassador had complained to me that he had destroyed C-Pack and that nothing had happened in the last three years.

Khalid Mansoor, Special Assistant to the Prime Minister for C-Pack Affairs, also endorsed Saleem Mandviwala, saying that Chinese companies were not satisfied with government agencies and the pace of their work.He said that he himself was not satisfied with the progress of work on Gwadar Airport and assured the panel that things were improving. Khalid Mansoor apprised the investors about the problems faced with regard to investment and the agreement of C-Pack Phase One Power Projects.
These include problems with the payment of Independent Power Projects (IPPs), long arrears and increase in holding tax on sponsors' profits. He said authorities now plan to set up an investment facilitation center to offer one-stop operations to all Chinese investors. Khalid Mansoor said that 135 Chinese companies are working in Pakistan on C-Pack and other projects and now restoring the confidence of those working on C-Pack is the top priority.
On the financial and physical progress of all major C-Pack projects, the committee was informed that 21 projects worth more than 15 billion have been completed. Of these, 10,320 MW are power projects and 9.6 billion docker HVDC transmission lines. The Senate committee directed that the relevant sections should plan ahead for next year so that the required projects at the federal and provincial levels could be sent to the Ministry of Planning before February.
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