LAHORE: The Pak International Business Forum (PIBF) has welcomed the recently signed Memorandums of Understanding (MoUs) between Pakistan and China for cooperation and investment in multiple sectors including industry, energy, infrastructure, technology, agriculture and trade, terming the development a positive step toward strengthening bilateral economic ties.
PIBF President Dr Mushtaq Mangat said that the agreements reflect growing international confidence in Pakistan’s economic potential and strategic importance. He stated that Chinese cooperation can significantly contribute to industrial growth, technology transfer, employment generation and export enhancement if the government creates an environment conducive for investors.
“Pakistan and China share a long-standing strategic partnership and these new agreements can become a milestone for economic progress. However, practical steps are required to convert these understandings into real economic activity and sustainable prosperity,” he said.
Dr Mushtaq Mangat emphasized that Pakistan’s business community is currently facing enormous challenges due to high electricity tariffs, expensive gas, increasing petroleum prices, high interest rates and multiple taxation-related complications. He said industries cannot compete internationally unless the cost of doing business is brought down to regionally competitive levels.
PIBF Secretary General Muhammad Ejaz Tanveer said that while foreign investment agreements are encouraging, the government must simultaneously introduce structural economic reforms to restore investor confidence and strengthen domestic industry.
“Reducing the prices of electricity, gas and petroleum products is essential for industrial revival. Without affordable energy and stable economic policies, industries will continue to struggle and foreign investors may hesitate to expand operations in Pakistan,” he said.
Muhammad Ejaz Tanveer urged the government to seriously consider the seven-point economic revival agenda proposed by PIBF for sustainable economic growth. He said the agenda focuses on practical reforms aimed at reducing the financial burden on industries and promoting investment.
He briefly outlined the seven points, including reduction in interest rates to facilitate business activity, revival of Development Finance Institutions (DFIs) for long-term industrial financing, provision of targeted facilities for exporters and SMEs, broadening of the tax net while lowering excessive tax rates, simplification of the taxation system through digital reforms, provision of regionally competitive electricity and gas tariffs for industries, and implementation of governance reforms to improve efficiency in the energy and economic sectors.
Dr Mushtaq Mangat added that Pakistan possesses immense economic opportunities and can attract substantial foreign investment provided there is policy continuity, economic stability and ease of doing business.
“The business community fully supports every initiative that strengthens Pakistan’s economy and enhances international cooperation. However, agreements alone are not enough; they must be backed by economic reforms that provide relief to industries, investors and the common man,” he said.
Muhammad Ejaz Tanveer reiterated that PIBF would continue to work closely with policymakers, stakeholders and the business community for industrial revival, export growth and sustainable economic development in Pakistan.
Copyright Business Recorder, 2026
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