Minister visits PCJCCI, discusses ideas to promote Chinese investment

LAHORE: S M Tanveer, Minister for Industry, Commerce and Energy Government of Punjab visited Pakistan China Joint Chamber of Commerce and Industry (PCJCCI) on Tuesday to discuss and exchange ideas to promote Chinese investment in Pakistan.

The event was attended by Manzoor Malik, Former Chairman FPCCI, Moazzam Ghurki, President PCJCCI, S M Naveed, Daud Ahmed and other executive committee members of PCJCCI.

S M Tanveer exchanged his views by saying that around 700 small, medium and large scale Chinese companies are currently working in Pakistan investing in various sectors, including the China-Pakistan Economic Corridor (CPEC), and the number is likely to grow in the future.

Chinese companies are interested in investing in sectors such as electronics, automotive, education exchange programmes, insurance, agriculture, textiles, shoe manufacturing, chemicals, battery recycling plant and real estate and we should facilitate them for the economic growth and stability.

Moazzam Ghurki, President PCJCCI said that low-priced energy was produced in China through incineration of waste materials. This model could prove to be a solution for energy crisis and environment pollution in Pakistan. He added that many Chinese companies are willing to invest in Municipal Solid Waste (MSW) incineration for power generation.

He urged the government to adopt waste-to-energy incineration model in Pakistan in partnership with Chinese expert companies.

Manzoor Malik, Former Chairman FPCCI stressed that we should conduct various B2B meetings among Chinese and Pakistani businessmen to increase the scope of trade and investment in the abovementioned areas. It was observed that counselling with Chinese business community is mandatory to increase the quantum of trade and investment opportunities in Pakistan.

S M Naveed, Former President PCJCCI said that China had been encouraging its companies to invest and do business in Pakistan and the PCJCCI was playing an important role in this regard.

There is great potential to be tapped in China-Pakistan economic cooperation, particularly keeping in view the China-Pakistan Economic Corridor (CPEC). With the initiation of CPEC, there has been a surge in investment flows into Pakistan, especially in infrastructure and energy sector.

Salahuddin Hanif, Secretary General thanked S M Tanveer for giving time out of his busy schedule and stressed that such interactive sessions should be conducted on regular basis to facilitate Chinese investment in Pakistan and to promote bilateral trade relations between the two nations.

Copyright Business Recorder, 2023