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Pakistan

PM Shehbaz says shifting Chinese industries to Pakistan will boost economy

  • Premier directs relevant authorities to extend full facilitation to Pakistani companies for collaboration with Chinese companies
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By BR Web Desk

Prime Minister Shehbaz Sharif Saturday said shifting Chinese industries to Pakistan will improve the economy, create new employment opportunities, and increase exports, Radio Pakistan reported on Saturday.

He was chairing a meeting in Islamabad to review progress over agreements made during his visit to China.

The development comes weeks after PM Shehbaz approved a joint venture project between Chinese and Pakistani companies regarding the transfer of Chinese industries to Pakistan, saying that promoting investment in Pakistan was his government’s top priority.

In today’s meeting, the premier directed that no delay would be tolerated in implementing the MoUs with China.

PM Shehbaz approves joint venture to transfer Chinese industries to Pakistan

He said China is a longtime friend of Pakistan that has helped it in every difficult time and the Chinese leadership is determined to further increase investment in Pakistan.

On the occasion, a comprehensive road map was presented for the transfer of Chinese industries in Pakistan under which partnerships will be signed with Chinese companies for shifting China’s textile, plastic, leather medical, and surgical equipment industries to Pakistan.

Security of Chinese citizens: PM orders setting up of safe cities at Dasu, Diamer Bhasha

The Board of Investment presented a progress report regarding interest shown by seventy-eight Pakistani companies to cooperate with Chinese companies for this purpose.

The Prime Minister appreciated the steps and recommendations of the Board of Investment in this regard.

He directed the relevant authorities to extend full facilitation to Pakistani companies for collaboration with Chinese companies.

Pakistan Economy Board of Investment Pakistan and China PM Shehbaz Sharif Pakistan China ties

Comments

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Arsalan Jul 20, 2024 08:00pm
Unless the govt readdresses the evil contracts with IPP's this exercise will also be less futile. As insane electricity will drive investors out instead of coming in.
0
KU Jul 20, 2024 08:09pm
This is so full of it that its useless even questioning its possibility.....
0
Az_Iz Jul 20, 2024 08:31pm
The industrialization phase of CPEC did not take off. That is why power sector of CPEC has become a burden. Hope this kind of news is real, not just hot air.
0
mustafa Jul 20, 2024 08:36pm
it would be great
0
KU Jul 20, 2024 09:08pm
Courtesy, Dr. Gohar Ejaz APTMA, we are told that four IPPs are being paid over Rs. 10 billion when they don't even generate any electricity. How shameful can it get? People in misery but corrupt live.
0
Doc Asad Jul 20, 2024 09:35pm
First get rid of IPPs so that electricity cost can go down and favourable environment develops.
0
Fouzi. Jul 20, 2024 10:10pm
and the local industry will shut down or leave Pakistan to another country
0
T Jul 20, 2024 11:05pm
shifting Chinese industries to Pakistan and Pakistani industries to uae, a milestone achieved.
0
Ali Jul 20, 2024 11:31pm
Electricity is too expensive in Pakistan & continues to be..... These efforts shall not be sustainable.
0
Kaka Jul 21, 2024 12:58am
A new day has come. Dragonon the way to burn you alive
0
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