ISLAMABAD: China-Pakistan Economic Corridor (CPEC) Joint Working Group on Energy projects has expressed satisfaction over the progress made by both side for achieving all deliverables relating to the power projects ahead of the schedule.
The Pakistan-China Joint Working Group on Energy Projects held its meeting here on Wednesday which was co-chaired by Secretary Water and Power, Mohammad Younus Dagha and Zhang Yuqing, Vice Administrator National Energy Administration China.
The meeting took in depth stock of the progress achieved by both sides as per the agreed schedule.
The meeting also took into account the level of preparedness by both sides on energy projects under the umbrella of China Pakistan Economic Corridor.
It was agreed that further accelerated steps would be taken by both the sides for implementation of the projects.
Mohammad Younus Dagha apprised the meeting that the Pakistani side has taken all steps to achieve the milestones according to the agreed schedule.
He briefed the meeting that all organizations under the Ministry of Water and Power are working tirelessly to achieve the target assigned to them.
He said that majority of the projects would be completing their financial close and would be ready to start practical execution in the coming days.
The meeting was also informed by the Sponsors and Banks associated with financial arrangements for the projects about their level of preparedness.
They expressed satisfaction over the progress made by Pakistani and Chinese sides and the companies associated with these projects.
The meeting expressed the confidence that on ground activities on major portion of the early harvest projects relating to energy sector will be materialized in near future.
Secretary Ministry of Planning and Reform, Hasan Nawaz Tarar, Secretary Petroleum and Natural Resources, Arshad Mirza, Additional Secretary PM’s Office and other Senior Government officials from Pakistan side participated in the meeting.
Similarly Han Shui Director General Department of Power NEA, Yang Lei Deputy Director General of Oil and Natural gas NEA, Representatives, heads of the 20 Chinese Companies associated with these projects, Chinese Banks and Sponsors represented the Chinese side.