The partnership between Chinese and Pakistani businesses to transfer Chinese industries to Pakistan has been approved by Prime Minister Muhammad Shehbaz Sharif.
Today, the Prime Minister of Pakistan presided over the crucial Investment Board meeting in Islamabad and declared that the government’s top objective is to encourage both foreign and domestic investment in Pakistan.
The government, he claimed, is doing all within its power to create an atmosphere that is conducive to commerce and investment.
Throughout his tour to China, the Prime Minister gave concerned officials instructions to provide a thorough report on the development of Memorandums of Understanding between Chinese and Pakistani businesses in Shenzhen.
Amidst the events that have transpired since his visit to China, he also directs officials to amend the one-stop shop statute for special economic zones.
Relocating China’s textile, leather, footwear, and other industries to Pakistan, according to Shehbaz Sharif, is quite likely.
At the meeting’s briefing, the Secretary of the Investment Board stated that action is being conducted to relocate Chinese industry to Pakistan.
He stated that the establishment of the Islamabad Business Facilitation Center and the draft ease of doing business act are being handled by Chinese experts, who will shortly be submitted to the Cabinet Committee on Legislative Affairs.
Senior government officials, including Prime Minister’s Coordinator Rana Ehsan Afzal, Federal Minister for Petroleum Dr. Mossadegh Malik, Federal Ministers for Finance and Revenue Muhammad Aurangzeb, Abdul Aleem Khan, Federal Minister for Commerce, and Prime Minister’s Coordinator.
