Popular Post

Pak Suzuki Motor lowers vehicle costs
News

Pak Suzuki Motor lowers vehicle costs

 The Power Sector Needs a Comprehensive Cybersecurity Model, Says Nepra Chief
Telecom

The Power Sector Needs a Comprehensive Cybersecurity Model, Says Nepra Chief

Shoaib Malik: Is He Really Quitting International Cricket?
Cricket

Shoaib Malik: Is He Really Quitting International Cricket?

Government Increases High Speed Diesel Sellers' Profit Margin
News

Government Increases High Speed Diesel Sellers' Profit Margin

SBP Permits Companies to Export Foreign Currencies Other Than the Dollar
News

SBP Permits Companies to Export Foreign Currencies Other Than the Dollar

Cooperation between Pakistan and China is crucial to Pakistan's socioeconomic development

  • qurratulain
  • 2022-06-30 15:50:08
  • News
Cooperation between Pakistan and China is crucial to Pakistan's socioeconomic development

Description:

PM Shehbaz says the government is taking initiatives to make it easier for investors.

As a delegation of China North Industries Corporation (NORINCO) met on Prime Minister Shehbaz Sharif in Islamabad on Thursday, he stated that strengthening China-Pakistan economic cooperation was important to Pakistan"s socioeconomic development.

The prime minister emphasised that Pakistan was open to investments and that his government was removing all hurdles to further benefit investors. He asked Chinese firms to engage in sustainable power in Pakistan, which had huge potential, notably in solar energy production.

The premier emphasised the importance of the China-Pakistan Economic Corridor (CPEC), calling it a revolutionary project for both nations" mutual prosperity and development.

Mr Wang Xiaobing, vice-president of NORINCO International, and Mr Li Chen, CEO of NORINCO International (Pakistan), headed the delegation. Federal ministers Khawaja Saad Rafique, Syed Naveed Qamar, Chauhdary Salik Hussain, advisor to the Prime Minister Ahad Cheema, SAPMs Syed Tariq Fatemi, Mohammad Jahanzeb Khan, Zafar-Ud-Din Mahmood, and others were also present.

The PM also praised the business for its contribution in the Lahore Orange Line Metro Train program, which he said helped hundreds of thousands of commuters every day. He noted that the initiative was the first to use open bidding in a government-to-government transaction.

The PM went on to say that the approach permitted further discussions with the cheapest bidder, saving the govt 600 million dollars - a watershed moment in Pakistan"s development history.

The group lauded Prime Minister Shehbaz for his tireless efforts to guide Pakistan out of its current economic turmoil. The prime minister "is a good friend of China whom business-friendly policies have increased economic relations and promoted foreign direct investment in the country," according to the statement.

The NORINCO team expressed strong interest in investing in a wide range of renewable energy in Pakistan, particularly in the Thatta wind corridor, where a 100 megawatts wind power project was proposed. They also talked about investments in optic fibre along railway tracks, copper and iron ore mining from known deposits, and infrastructure development in the country"s major cities.

Prime Minister Shehbaz praised Chinese President Xi Jinping and H.E. Premier Li Keqiang for their persistent and steadfast support for Pakistan, especially considering the country"s economic circumstances.

Qurratulain Junaid
Chief Content Officer

A tech enthusiast, writer, researcher and strategist working on the latest technologies and making an impact. Qurratulain has been heavily focused on building communities, empowering people through technological trends and advancements for over 3+ years.


[email protected]

You may also like

Popular posts

Sindh Launches a New Educational Management System for Government Schools
Education

Sindh Launches a New Educational Management System for Government Schools

  • 2022-08-18 22:19:32
Imran calls on "neutrals" to reevaluate choices in order to stabilise the nation
Politics

Imran calls on "neutrals" to reevaluate choices in order to stabilise the nation

  • 2022-08-18 21:51:11
Nadia Khan, a star overseas, is about to join the Pakistan women's football team
Football

Nadia Khan, a star overseas, is about to join the Pakistan women's football team

  • 2022-08-18 21:39:01
Virat Kohli is surpassed by Babar Azam to reach yet another ODI milestone
Cricket

Virat Kohli is surpassed by Babar Azam to reach yet another ODI milestone

  • 2022-08-17 21:47:31
The court grants Shahbaz Gill's request for additional physical remand
Politics

The court grants Shahbaz Gill's request for additional physical remand

  • 2022-08-17 15:33:28

Pages

Subscribe our Newsletter!

Subscribe to our email newsletter to receive useful articles and special offers.