BEIJING – The Chairman of China Northern Industry Corporation called on Prime Minister Shehbaz Sharif in Beijing on Thursday (today).
The Prime Minister invited the Chairman of China Northern Industry Corporation to invest in communication projects in Pakistan especially Karachi Circular Railway.
Shehbaz Sharif said the government is facilitating foreign investment. In this regard, the Special Investment Facilitation Council is an important initiative of the government.
The Prime Minister said Pakistan and China have long-standing brotherly ties which are getting stronger with time.
The Chairman of China Northern Industry Corporation was appreciative of the speed and quality of the projects executed under the supervision of Prime Minister Shehbaz Sharif.
Earlier in the day, Prime Minister Shehbaz Sharif said Pakistan is taking steps to improve governance, increase tax net and ensure ease of doing business in order to attract foreign direct investment.
He was talking to President of China Exim Bank Dr. Wu Fulin in Beijing.
PM Shehbaz said the results of reform measures started appearing as the inflation in the food sector has been controlled to a great extent. He said the current account deficit has narrowed and public debt has been brought to a more sustainable level.
The Prime Minister said Pakistan wants to learn from the Chinese experiences to uplift the agriculture sector.
Shehbaz Sharif said ML-1 upgradation project is ready for investment and Pakistan also desires Chinese investment in the revival of Karachi circular railway project.
The Prime Minister appreciated EXIM Bank’s continued support for the modernization of Pakistan’s industries, agriculture and IT sectors.
They also discussed the China-Pakistan joint venture projects and the possible role of the Chinese EXIM Bank in trade financing as part of efforts to promote Pakistan’s exports in international markets.
Dr Wu Fulin said every project of Pakistan is a priority for China EXIM Bank. He emphasized the importance of economic and financial cooperation under CPEC Phase II and China Exim Bank’s strategic partnership with Pakistan and cooperation to advance sustainable development under the concept of Shared Prosperity.
