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Chinese firm keen to invest in Pakistan’s mineral sector, says Islamabad

  • Interest expressed by Chairman of MCC Tongsin Resources Wang Jicheng during a meeting with Prime Minister Shehbaz Sharif, according to information ministry
Published May 17, 2024

MCC Tongsin Resources, a research and investment Chinese company, has expressed keen interest in enhancing its investment in Pakistan’s mineral and mining sector, according to a statement issued by Islamabad.

The interest was expressed by Chairman of MCC Tongsin Resources, Wang Jicheng, during a meeting with Prime Minister Shehbaz Sharif in Islamabad on Friday, read a statement by the Ministry of Information and Broadcasting.

During the meeting, the Chinese company gave a detailed briefing to the prime minister regarding the construction of a mineral park in Pakistan and informed about its further investment plan.

Welcoming the Chinese company, Prime Minister Shehbaz invited the Chinese firm to invest in Pakistan’s mining sector and assured it of maximum facilitation.

He said the government is taking steps on a priority basis to increase foreign investment in the country.

As per the statement, the prime minister invited the Chinese company to invest in the mineral sector in Pakistan from mining to the production of export goods.

“The investment will be extended full facilitation for extraction of minerals, their processing and export of their products to enhance the country’s exports,” the PM was quoted as saying.

Shehbaz directed the concerned federal ministers and officers to consult with the Chinese company and also directed to include the Chief Minister of Balochistan and relevant departments and stakeholders of the province in the consultation process.

“China is Pakistan’s long-standing friend and important partner in development. He said China helped Pakistan in difficult times, for which the entire Pakistan nation, is grateful to the Chinese leadership and people,” said Shehbaz.

Neighboring allies, Pakistan and China have enjoyed a robust economic relationship that has deepened significantly over the past few decades.

The cornerstone of this relationship is the China-Pakistan Economic Corridor (CPEC), a multi-billion-dollar infrastructure project.

Earlier, during the Fifth Round of the China-Pakistan Foreign Ministers’ Strategic Dialogue, both countries agreed to deepen and substantiate Beijing’s eight major steps to support high-quality Belt and Road cooperation and forge an “upgraded version” of the CPEC by jointly building a growth corridor.


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Arif May 17, 2024 03:47pm
Is it the same Islamabad which is saying for the last one year that $ Billion Saudi Investment is coming ?
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test May 17, 2024 04:06pm
Chinese People and Chinese Industries and Chinese Investment are always welcome with both open hands for them from Pakistan. There should be a mega railway project 58 bln usd to get metals to Chinese.
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test May 17, 2024 04:24pm
@Arif , There is a big difference between both of them. When China say they do it and they mean it but when Saudis say they just provide lip service that's it. China is our brother while Saudi friend.
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NotSurprised May 17, 2024 04:45pm
Saudis, Turks, Chinese, Emirates, Qataris, Egyptians...all only interested in one thing. Gold and copper mines. Its like we are low level african country that cannot even take out its own treasure.
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NotSurprised May 17, 2024 04:46pm
No other country wants to invest a penny in anything else in a country where there is no law, no work ethic and religious extremism. Heal thyself before expecting others.
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Re=== May 17, 2024 05:17pm
@test, Saudi writes of the hand that gave you the loan, China, takes your arm and and your leg to give the loan. 30% of the economy goes into servicing China debts, what did you get in return!
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test May 17, 2024 08:33pm
@Re===, What about 70% ? As far as begging is concerned it was our elite class who went to begging. No body asked Pakistan in general and Elite class in Particular to beg for dollars from any country.
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Chawla.i May 17, 2024 10:48pm
Chinese com MCC eating our naturalresources at very low value ,Dear P.m sahb wake up ask MCC to bring 5bil dollars as they have earned 24.5bil dollars from Sandak project fr ur kind information, .
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Chawla.i May 17, 2024 10:56pm
Strategicaly we can also invite international com to bid fr 25%stake in Rekodik which can fetch another 15/20biln dollars in 5years so it can b a game changer fr our beloved country with right decsns.
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Chawla.i May 17, 2024 11:01pm
There are 500private compns in copper minning with interest in minning all over d world and out of 500comps 50 can b targtd fr 3/5biln dollars as they r public limited companies & r finac very strong
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Usman May 17, 2024 11:35pm
@test, Saudis never said it.our army hyped it up.
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