Skip to main content

Govt warns public against investing in company, ChinaPakHills

https://googleweblight.com/i?u=https://www.samaa.tv/economy/2017/10/govt-warns-public-investing-china-pak-hills-company/&grqid=eMK02YPr&hl=en-IN


October 23, 2017 By:Samaa Web DeskPublished in Economy Be the first to comment!

ISLAMABAD: The federal government Monday warned public at large not to pay heed to rumours about a heavy investment allegedly made by a Chinese in the Real Estate business in Gwadar, asking the investors not to invest in any company that might be involved in massive fraud.

In an official statement, the spokesman of Ministry of Planning, Development and Reform cautioned public at large not to pay heed towards an alleged investment of US$ 500 million in Gwadar’s real estate business under the name of ‘China Pak Hills’.

A propos news item “Chinese company invests $500m in Gwadar residential project” published in a section of press has claimed that China Pak Hills has invested US$ 500 million in Gwadar’s real estate business.

It is to put on record that Gwadar Development Authority (GDA) has not issued any No Objection Certificate (NOC) to a housing project named as ‘China Pak Hills’, said an official handout by China Pakistan Economic Corridor Secretariat, Ministry of Planning, Development and Reform.

The report is baseless and highly exaggerated. Even GDA has no information about $500m Chinese investment in housing sector” said the spokesman.

He said that the news item presented a highly exaggerated scenario about Chinese professionals shifting to Gwadar by 2023.

The newspaper should have contacted the Ministry of Planning before publishing such news item having such content,’ the statement maintained.

CPIC denies allegations

The CPIC has denied the allegations of being a phone company, saying it has obtained the NOC from the Gwadar authority to invest in the port city.

“The company China Pak Investment Corporation (CPIC) has acquired International Port City Project in Gwadar, Pakistan, which has NOC Number 74/07/HS/GDA (B) issued by the Gwadar Development Authority (GDA),” a statement by the company said.

“A name change application has been submitted to Gwadar Development Authority for changing the name to China Pak Hills which has been received by Gwadar Development Authority. The name change is a right of any project as per bylaws and has been done in several projects in Gwadar under GDA rules,” it said.

The USD $500 million investment quoted was misconstrued, this is not an immediate investment being under taken by the China Pak Investment Corporation, it is the Gross Development Value of the anticipated projects planned to be undertaken by the China Pak Investment Corporation in the coming years.

An MOU has been signed with Top International Engineering Corporation (TIEC), a subsidiary of Shaanxi Construction Engineering Group Corporation (SCEGC), a Chinese state owned organization for development and construction of China Pak Hills / International Port City.

The press conference held on Thursday the 19th of October 2017 at The Grosvenor House, Hotel on Park Lane in London was a celebration of the momentous agreement we had reached with Top International Engineering Corporation.

“We look forward to working closely with the Honourable Ministry of Planning, Development & Reform, Gwadar Development Authority and all relevant stakeholders to contribute to the growth story of Pakistan, attracting increased Foreign Direct Investment and together building a Better Pakistan.”

“We would also like to take this opportunity to thank our honourable partners Top International Engineering Corporation for their continued support. Together with TIEC we look forward to building this project and delivering a ground-breaking Master Community in Gwadar.”

China Pak Investment Corporation is a responsible organisation, should any Authority or Individual wish to view the aforementioned legal documentation or require any further clarification please send us an email to info@chinapakhills.com and this will duly be provided. – SAMAA/APP

Comments

Popular posts from this blog

Balochistan to establish first medical university

https://www.dawn.com/news/1366135

The Newspaper's Staff CorrespondentOctober 25, 2017QUETTA: The provincial cabinet on Tuesday approved the draft for establishing a medical university in Balochistan.Health minister Mir Rehmat Saleh Baloch made the announcement while speaking at a press conference after a cabinet meeting.“The cabinet has approved the draft of the medical university which would be presented in the current session of the Balochistan Assembly,” he said, adding with the assembly’s approval the Bolan Medical College would be converted into a medical university.Published in Dawn, October 25th, 2017

5 Shia Hazara community members gunned down in Pakistan

http://m.hindustantimes.com/world-news/5-shia-hazara-community-members-gunned-down-in-pakistan/story-CHWR4lYByRHzf2KjHjMloI.html



Five members of the minority Shia Hazara community, including two women, were killed on Sunday in an attack by unidentified gunmen in Pakistan’s restive Balochistan province.This is not the first time that members of the Hazara community have been targeted in Quetta and other parts of Balochistan.(Reuters File Photo)Updated: Sep 11, 2017 00:20 ISTBy Press Trust of India, Press Trust of India, KarachiFive members of the minority Shia Hazara community, including two women, were killed on Sunday in an attack by unidentified gunmen in Pakistan’s restive Balochistan province.The gunmen targeted a car in Kuchluck area of Quetta while it was coming from the Chaman border crossing area, police said.The firing took place when the travellers had stopped at a filling station to refuel their vehicle. Five people of the Shia Hazara community, including two women, died in …

China’s 'Digital Silk Road': Pitfalls Among High Hopes

https://thediplomat.com/2017/11/chinas-digital-silk-road-pitfalls-among-high-hopes/


Will information and communication technologies help China realize its Digital Silk Road?By Wenyuan WuNovember 03, 2017In his speech at the opening ceremony of China’s 19th Party Congress, President Xi Jinping depicted China as a model of scientific and harmonious development for developing nations. Xi’s China wants to engage the world through commerce but also through environmental protection and technological advancement. This includes Beijing’s efforts to fight climate change with information and communication technologies (ICTs) that it plans to export along its “One Belt One Road” initiative (OBOR). Xi may have ambitious plans, but could China be throwing up obstacles in its own way?In his speech, the Chinese president emphasized the need to modernize the country’s environmental protections. The Chinese state is taking an “ecological civilization” approach to development and diplomacy, with a natio…