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- May 17, 2024
- Kainat Shakeel
- 0
BEIJING: Ishaq Dar, deputy prime minister and foreign minister, said on Thursday that the government has an economic plan agenda that works behind investors’ interest asking them to come by the friendly policies and labor-intensive industries in Pakistan. “With the participation of Chinese labor cost less than when imported from China, the sector selection has prime areas such as agriculture, textile, mining and information technology where doing business in Pakistan will result in competitive labor gains,” he added as a speaker at the Pakistan-China Business Roundtable Conference hosted by the Pakistan Embassy in Beijing.
Mr Dar indicated the government is speeding up the process of the establishment of special economic zones and is also presenting sizeable and attractive add-on plans for the setting up of diverse industries. Zhang elaborated that “common areas indicating great opportunities for the cooperation of Chinese and Pakistani entrepreneurs in setting up industries on ownership basis or joint venture agreement with Pakistani businesspersons” were outlined in the 13 key areas. That creates a situation where these businessmen of China could have access to a variety of dynamically growing markets, including the EU, the Middle East, and especially China which they could enjoy through the free trade agreements with Pakistan, he said.
This environment, he said, provides competitiveness along with healthy revenue flow, especially in Special Economic Zones (SEZ), Export Processing Zones (EPZ), Free Zone in Gwadar, and Special Technology Zone. The deputy prime minister identifies that the process of the private sector taking up of the public owned enterprises into their businesses can be a perspective of the business. He said that the Chinese people and institutions in Pakistan would be ensured of their security and that the mortals of the Dasu attack terrorists would be soon procured magnified.
At the same time Pakistani foreign minister held talks with Chinese Minister for Finance Lan Foan and spoke to the reform agenda being introduced by the Pakistan government with emphasis on good governance, revenue and ease of doing business to attract FDI. He also stressed the fact that the country gives the highest priority to China’s investment, and he provided a country-prioritized list of sectors which include agriculture, IT, mines and minerals, and renewable energy. The deputy prime minister of Pakistan and the Chinese ministers showed their pleasure in Pakistan-China finance and banking cooperation, evading the close ties between the two countries to the upper stage.