PM Approved the Relocation of Chinese Industries to Pakistan
ISLAMABAD: Prime Minister Shehbaz Sharif approved the relocation of Chinese industries to Pakistan on Wednesday as part of joint ventures between companies from both nations.
The prime minister chaired a meeting to discuss matters of the Board of Investment and said, “Promoting local and foreign investment in Pakistan was among the government`s priorities.”
He also said the government was taking all possible steps to create a business-friendly environment for traders and investors.
During his recent visit to China, Mian Muhammad Shehbaz Sharif directed the authorities to submit a comprehensive report on the follow-up of MoUs signed between Pakistani and Chinese companies in Shenzhen.
In a separate meeting on petroleum and Thar coal, Prime Minister Sharif emphasized the importance of promoting alternative energy sources, particularly solar energy.
The meeting highlighted the potential for relocating China`s textile, leather, footwear, and other industries to Pakistan. It noted ongoing efforts to facilitate this relocation and revealed plans to enlist Chinese experts to establish a Business Facilitation Centre in Islamabad.
In a separate meeting on petroleum and Thar coal, Prime Minister Sharif emphasized promoting alternative energy sources, particularly solar energy. Petroleum Minister Dr. Musadik Malik, Power Minister Awais Ahmed Leghari, PM`s Coordinator Rana Ehsas Afzal, and other senior officials attended the meeting.
A policy will be formulated to promote electric bikes, vehicles, and domestic appliances. Proposals for deregulating the petroleum sector and digitising petrol and gas exploration are underway. The Petroleum Division is enhancing the industry’s competitiveness, promoting biofuels, and increasing local oil and gas production.
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