PM orders fast tracking implementation of China deals to expand foreign investments

ISLAMABAD: Prime Minister Shehbaz Sharif on Saturday directed the authorities concerned to expedite process of implementing the agreements and memorandum of understandings (MoUs) made with the Chinese government and companies, saying that delay in implementation of the agreements would not be tolerated.

China is a time tested friend of Pakistan who helped Pakistan in every hour of need, the prime minister said while chairing a review meeting regarding Pak-China cooperation at the PM House.

The meeting was attended by Deputy Prime Minister and Foreign Minister Ishaq Dar, federal ministers including Jam Kamal Khan, Abdul Aleem Khan, Ahad Khan Cheema, and other officials including PM's aides.

During the meeting, PM Shehbaz said the Chinese leadership was determined to further expand investment in Pakistan.

He pointed out that the transfer of the Chinese industry to Pakistan would help improving the country’s overall economy, increasing Pakistan’s exports, and creating new employment opportunities.

During the meeting, the premier was briefed on progress of different projects that were launched with the Chinese cooperation.

He was told that Sukkur-Hyderabad Motorway would be completed through Public-Private Partnership.

Moreover, the authorities informed the PM that the plan to send 1,000 students for modern agricultural vocational training at government expense had been completed.

The first batch of students was being sent to China at the beginning of this academic year while the the next batch would be sent to the Chinese modern agricultural universities after completing Chinese language course in Pakistan.

Furthermore, the meeting was informed that the plan to transfer the power plants running on imported coal to local coal was also in the final stages.

In regard with the business and investment opportunities in Pakistan, a road show was being organised in Beijing with the cooperation of China. A comprehensive road map was presented to the meeting regarding the transfer of Chinese industries in Pakistan.

It was informed in the meeting that the Chinese textile, medical and surgical equipment, plastic and leather industries will move to Pakistan.

“78 Pakistani companies have initially expressed deep interest in cooperation for the transfer of Chinese industries to Pakistan,” the meeting was informed.

In this regard, the Board of Investment (BoI) presented a comprehensive report on the progress and action plan.

PM Shehbaz appreciated the steps and recommendations of BoI and directed the relevant departments and officers to provide all kinds of facilities to Pakistani companies in collaborating with Chinese companies.