Govt denies Chinese company’s investment in Gwadar project

ISLAMABAD: Apropos a news item – “Chinese company invests $500m in Gwadar residential project" published in a section of the press, the spokesman of the Ministry of Planning, Development & Reform has refuted and termed it as baseless and highly exaggerated.

Spokesman of the ministry has clarified that the Gwadar Development Authority (GDA) has not issued NOC to a housing project 'China Pak Hills,' says a press release on Monday.

"Even GDA has no information about $500m Chinese investment in housing sector," said the spokesman. He further stated 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.