Islamabad, 17 May 2024 (WAI): The Metallurgical Corporation of China (MCC) has expressed profound interest in increasing its investment in Pakistan’s mineral and mining sector. The Chinese company’s delegation, led by its Chairman Wang Jaicheng, expressed interest during their meeting with Prime Minister Shehbaz Sharif on Friday.
The company gave the Prime Minister an in-depth briefing about the construction of a mineral park in Pakistan and provided details about its future investment plan. The Prime Minister welcomed the Chinese company and said that the government is taking steps to boost FDI in the country.
The Prime Minister said China is Pakistan’s long-standing ally and essential partner in the development and economic sector. Furthermore, he added that China stands by Pakistan through thick and thin. The entire nation is grateful to the Chinese leadership and the Chinese people.
The Prime Minister invited the Chinese company to invest in the mineral sector in Pakistan. Facilities will be granted for mineral extraction, processing, and product export to enhance Pakistan’s exports.
The premier directed the concerned federal ministers and officers to engage with the Chinese company. He also directed the Chief Minister of Balochistan and other stakeholders to be involved in the consultation process.
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On May 16, the MCC delegation met with Ahsan Iqbal, the Minister for Planning and Development and Special Imitative. The minister told the delegation that mining is a paramount sector of the China-Pakistan Economic Corridor (CPEC) Phase 2.
In response to the company’s request, the minister directed them to prepare their proposal for CPEC inclusion. During the meeting, it was discussed that establishing a national power grid could lower operational costs for provincial mining projects. The Saindak Copper-Gold Project in Baluchistan is managed by MCCT Resources Development Company (Pvt) Ltd (MRDL).
The MCCT submitted a proposal to set up a mineral industrial park in Pakistan. This park would refine copper/ lead/ zinc and deep process it, adding more value to mineral products.
With the development of more mining projects, setting up such an industrial park will become viable. These parks will also attract investors to invest in metal refineries and processing plants that produce wires, rods, plates, and other products. Meanwhile, power supply, water supply, transportation, and other industries can also made for the facilitation of industrial parks.
Atika Hassan is pursuing her MPhil in International Relations from University of the Punjab, Lahore, Pakistan. She loves to explore the fascinating world of international and domestic politics and can be reached out at [email protected]
