Iranian companies to invest in Punjab

LAHORE:Provincial Minister for Industry and Commerce Chaudhry Shafay Hussain met with Iranian Consul General Mehran Mowahidfar and Iran's big investor group at the Iranian Consulate.

The delegation was led by the CEO of Taman Petroleum and Petrochemical Investment Company Babak Afghani. During the meeting, there was a discussion on the opportunities to increase bilateral economic cooperation. The head of the delegation, Babak Afghani, said there are 93 companies in the group that are manufacturing various products and want to increase economic cooperation with Pakistan, but the tariff is a big obstacle to increasing bilateral trade cooperation. He said that cementing economic relations with neighbours is good politics, Pakistan and Iran have to come forward to fulfill each other's needs. He said that Pakistani textile products are very popular in Iran, there is a great potential for cooperation in this sector.

While talking on this occasion, Iranian Consul General said that Iran and Pakistan are brotherly Islamic countries, historical and cultural relations are established between the two, but effective measures are needed to promote trade relations between the two countries. He said that Iranian companies were ready to increase cooperation with Punjab in agriculture, industry, energy and all sectors. Iranian Consul General inquired about the well-being of former PM Chaudhry Shujaat Hussain from the provincial minister and said that the Iranian Consulate had the honour of hosting Chaudhry Shujaat Hussain.

While talking to delegation, Provincial Minister for Industry and Commerce Chaudhry Shafay Hussain said that it would be pleasure if the Iranian group invests in LPG, tyre industry and other sectors, the government will provide all possible facilities. He said that he would talk to the Prime Minister regarding the RD tax. The minister said that bilateral trade should be enhanced, the people of the two countries would benefit from this, and for the promotion of trade cooperation, people to people contacts should also be increased. It is time for Pakistan and Iran to move forward to promote economic cooperation. Officers of Punjab Investment Board were also present in the meeting.