China to invest $3.5b in Pakistan: Minister

ISLAMABAD: The Federal Minister for Power Khurram Dastgir has said the government is “working for more production and stability of electricity”.

Dastgir said that China will invest $3.5 billion in Pakistan, after a four-year stagnation of the China-Pakistan Economic Corridor (CPEC) project. The landmark Chinese project aims to boost transnation trade and undertake infrastructural development in Pakistan.

According to Dastgir, Pakistan’s nuclear sector will be boosted by the potential Chinese investment. He said that cheaper electricity will be obtained from the nuclear plant.

The federal minister claimed that the power capacity has increased by 5,000 megawatts under Prime Minister Shehbaz Sharif.

He said that electricity production alternatives were also being explored with 2,000 megawatts of electricity being generated from Thar coal plants.