PM says more cooperation with China is ‘win-win situation’

Prime Minister Shehbaz Sharif stressed on Wednesday the importance of Pakistan and Chinese firms deepening bilateral cooperation in a bid to create solutions for both nations.

Speaking to officials of the Special Economic Zones, he said that Pakistan possessed cheap skilled and semi-skilled labour and the nation was looking to attract Chinese technology by enhancing cooperation.

“Bilateral investment and joint ventures can create a win-win situation for both countries. We can export the merchandise produced and earn profits,” he said.

Citing that the promotion of economic zones in Pakistan, particularly in Balochistan and Khyber-Pakhtunkhwa, will lead to investment, job creation and revenues, he shared his vision to make Pakistan progressive and prosperous country.

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He recalled that Pakistan and Chinese governments had unanimously approved nine Special Economic Zones under the China-Pakistan Economic Corridor in a meeting held at Beijing in 2016-17.

He also shared plans to hold road shows in China to encourage the neighbouring country to invest in Pakistan.

“I urge Chinese investors to meet deadlines. We should become role models for foreign investors,” he said, while promising support to Chinese businessmen.

Last month, PM Shehbaz said that Pakistan needed support from China in the form of investment, trade and transfer of knowledge rather than disbursement of loans and financial aid.

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In a meeting with Chinese investors, he said that Pakistan wanted to learn agriculture and industrial uplift and cost cutting from China.

“Scarce resources are used to finance expensive oil and gas imports and we need to learn how to replace them with wind and solar power and how to make Pakistan prosperous and progressive in the time to come,” he said.

He praised Chinese President Xi Jinping and Premier Li Keqiang for extending endless support to Pakistan.

In March, Pakistan sought financial support of about $ 21 billion from China through rollover of existing loans of $10.735 billion and $10 billion as deposit fund, to meet future financial needs and deal with financial challenges.