PM greenlights joint ventures for relocating Chinese industry to Pakistan M Haris

Prime Minister Shehbaz Sharif on Wednesday greenlit the joint ventures between Chinese and Pakistani companies for relocating the Chinese industries to Pakistan.

Chairing a meeting to discuss the matters of the Board of Investment (BoI), the prime minister said that promoting both local and foreign investment in Pakistan was among the government’s priorities.

He said the government was taking all possible steps to create a business-friendly environment for traders and investors. 

The prime minister directed the concerned authorities to submit a comprehensive report on the follow-up of the Memorandum of Understanding (MoUs) signed between Pakistani and Chinese companies in Shenzhen during his recent visit to China.

He also instructed a review of the draft law for the Special Economic Zones One Stop Shop in light of the developments following his China visit.

Prime Minister Shehbaz said there was significant potential for relocating China’s textile, leather, footwear, and other industries to Pakistan. 

Meanwhile, during the briefing, the BoI Secretary said that the steps were being taken to relocate Chinese industry to Pakistan.

It was told that the services of Chinese experts were being hired to establish a Business Facilitation Centre in the federal capital and the draft of the “Easy Business Act” was being sent to the Cabinet Committee for Legislative Cases.

The meeting was attended by Federal Minister for Privatization and Investment Abdul Aleem Khan, Federal Minister for Commerce Jam Kamal, Federal Minister for Finance and Revenue Muhammad Aurangzeb, Federal Minister for Petroleum Dr. Musadik Malik, Prime Minister’s Coordinator, Rana Ehsan Afzal and relevant senior government officials.