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PM assures foolproof security, facilitation to Chinese nationals

Prime Minister Shehbaz Sharif has assured provision of foolproof security and facilitation to Chinese nationals and investors in Pakistan.

Addressing Pakistan China Business Forum in Shenzhen today, he said government has taken various measures to protect the lives of every Chinese working across the country ever since the dastardly terrorist act in Bisham.

He said no effort will be spared for the protection of Chinese nationals in Pakistan.

Highly praising the advancement made by China over the years under the dynamic and visionary leadership of President Xi Jinping, the Prime Minister expressed the firm resolve to follow this model of great economic transformation in Pakistan.  He said we have already started structural changes in Pakistan envisaging measures also to control corruption.

Alluding to the country’s potential, he said the country’s mineral deposits value around ten trillion dollars. He said Pakistan has potential to bolster its exports by bringing to use its gold and copper mines.

The Prime Minister assured to extend full support and facilitation to the Pakistani businessmen stitching mutually beneficial deals with Chinese companies. He asked the Pakistani enterpreneurs to hold serious discussions with their Chinese counterparts for joint collaborations and investments in diverse areas including textile, leather, steel and engineering.

In his remarks on the occasion, Deputy Prime Minister and Foreign Minister Ishaq Dar said the Chinese companies will be fully facilitated to set up their businesses in Pakistan on fast track basis. He mentioned that Special Investment Facilitation Council has been established with the purpose to facilitate the investors and businesses. He pointed out the labor cost is competitive in Pakistan.

Finance Minister Muhammad Aurangzeb has said that all macroeconomic indicators are moving in right direction with a positive trajectory in the country.

Addressing China-Pakistan Business Forum, he said under Prime Minister Shehbaz Sharif’s direction, the government is pursuing the home-grown agenda for economic revival of the country. He said as part of this home grown agenda, markets and not the government are going to anchor our economy.

The Minister said the Agriculture GDP growth during the current fiscal year remained 6. 25 percent, which is a real bright.  He said on fiscal side, we have a primary surplus, which reflects fiscal consolidation and fiscal discipline. He said remittances have grown and exports have moved up in all sectors including textile, agriculture and Information Technology.

Muhammad Aurangzeb said the government will keep on focusing on information technology, and agriculture as these sectors will be real leaders of growth in the future.

The Minister said our current account deficit is going to be less than a billion dollars during this fiscal year and our currency has been stable over the last few months due to administrative measures and structural changes. He said our foreign reserves are over nine billion dollars.

Muhammad Aurangzeb said the government is committed to ensuring provision of policy framework and policy continuity for encouraging foreign investment. He said we are also pursuing a policy for SOE reforms and accelerating the privatization agenda.

The Minister said we are implementing the Road to Market approach which includes Export-led Growth, Foreign Direct Investment in terms of G2G and B2B and Access to International Capital Market, as its main pillars.

The Minister said the government wants to go in with Pakistan inaugural Panda Bond during the next fiscal year to attract the Chinese capital market, which is the second largest and deepest market in the world.

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