Islamabad: September 5, 2024. Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, met with the leadership of Pak China Investment Company Limited (PCICL) to discuss boosting Chinese investment in Pakistan, with a focus on joint ventures and expanding exports of Pakistan-based Chinese firms.
Attendees included PCICL Chairman Mr. Sun Bo, Managing Director Mr. Hassan Raza, and senior officials from the Finance Division and PCICL.
During the discussion, the Finance Minister said that PCICL was an important partner for Pakistan’s economic growth and development. He said that in the CPEC phase 2, development and growth of industry and relocation of businesses were going to be the priority areas. In such a scenario, it was imperative for PCICL to reposition itself with a clear view of the target market and play the role of an anchor in identifying areas for joint ventures and SMEs and providing advisory and support in financing to boost investment and trade flows, he said.
Mr. Sun Bo and Mr. Hassan Raza briefed the Minister on PCICL’s efforts to strengthen Pakistan-China trade and investment, pledging continued support. Mr. Sun Bo, Chairman PCICL, thanked the Finance Minister and appreciated his comments and concerns about the role of PCICL in promoting investment and joint ventures between both countries. “We would do our best to serve the Pakistan economy,” he added.
In the end, the Finance Minister also reassured Chinese investors of their security, underscoring the importance of their contributions to Pakistan’s economic progress, and reiterated the commitment of the government to promote a business and investment friendly environment in the country.