Imran Khan meets Chinese corporate heads to reinvigorate business and investment ties
BEIJING: Prime Minister of Pakistan Imran Khan held a series of meetings with the Chairpersons and CEOs of top-ranking Chinese Companies on 8 October 2019. This is Pakistan Prime Minister Imran Khan’s third visit to China in less than a year with a hope to increase Chinese investment to Pakistan and reinvigorate the US$60 billion China Pakistan Economic Corridor (CPEC). Heads of the companies dealing in oil and gas, mining, textile, power and energy sectors including China Gezhouba Group Cooperation, Orient Holdings Group Shanghai, China Metallurgical Corporation, Minmetals and Longmarch Tyres met with the visiting premier. Khan apprised them of the current status of their ongoing operations in Pakistan and presented specific proposals for expanded business projects in Pakistan in diverse sectors including oil and gas, power generation and distribution, textile, tyres manufacturing, minerals and rare metals exploration, light and heavy machinery and construction. The companies also detailed their plans for the establishment of Textile and Apparel Park, Industrial Parks and projects to convert coal resources into combustible fuels. Welcoming the Chinese companies’ commitment to expand their investments in Pakistan, the Prime Minister reaffirmed the government’s resolve to provide further incentives for the relocation of industries from China to Pakistan and to offer favorable business environment to these companies as well as other enterprises. The Prime Minister stressed that these measures would generate employment and tax revenue benefitting the overall economy of Pakistan. During the meetings, the Foreign Minister, Minister for Railways, Minister for Planning and Reform, Adviser to the Prime Minister on Commerce, Special Assistant to the Prime Minister on Petroleum and Chairman BOI were also present. Ministers held follow up meetings with relevant CEOs of the Chinese companies as well. Prime Minister Imran Khan is visiting China from 08-09 October 2019 on the invitation of Premier Li Keqiang. “The visit will be instrumental in further cementing Pakistan’s economic, investment and strategic ties with China,” PM Office said in a statement. His visit will also include talks on the progress of the China-Pakistan Economic Corridor (CPEC), the $60 billion infrastructure programme China launched in Pakistan as part of its flagship “Belt and Road” project. Ahead of Imran’s, Pakistan’s Chief of Army Staff (COAS) Gen Qamar Javed Bajwa arrived in China on an official visit, the military’s media wing said.