ISLAMABAD: Prime Minister Imran Khan Monday said that industrial progress and exports were keys to a country’s progress and prosperity.
The prime minister was addressing a launching ceremony of Pak-China Business Investment Forum formed in collaboration with Pakistan Board of Investment (BOI) and All Pakistan Chinese Enterprises Association to promote investment by Chinese companies in Pakistan and enhance business-to-business industrial cooperation.
He said that wealth creation of a country was impossible without industrial development while exports increase supplemented such efforts. He regretted that during the 60s, Pakistan was moving towards industrialization, but a nationalization process choked the progress.
He said different small countries in the world had increased their exports capacities. He said the government had provided incentives to the IT sector and within two years, its exports had been doubled.
Referring to China and Turkey, the prime minister observed that they made strides by enhancing their industrial and exports capabilities. He opined that in Pakistan, focus on industrialization had never been made a priority in the past.
He expressed confidence that the establishment of the forum would enhance ease of doing business between the Chinese and Pakistani companies, he expressed the confidence.
Terming the launch of forum as a special occasion, he said it would help the government to get feedback over investment and trade issues and overcome the bottlenecks with provision of incentives.
PM Imran Khan further observed that the investment process was a time consuming whereas time was precious for an investor. He assured that the government and BOI were making full efforts to eliminate the blockages in this process and to further facilitate the Chinese investment.
The ceremony was attended by the ministers, advisers, Chinese ambassador, representatives of the Chinese and Pakistani companies, and relevant authorities.
The prime minister also lauded efforts of the National Command and Operation Centre (NCOC) for its efforts to contain the coronavirus. “Pakistan coped with the coronavirus, while our neighbouring countries including India and Iran were badly affected with the pandemic. The Economist magazine in its report has ranked Pakistan as the top country that not only saved its people but also its economy from the COVID-19,” he added.
The prime minister said it was another big success of his government for which they deserved all credit. “It was the good governance system which helped to steer Pakistan out of the challenge,” he added.
The prime minister said they would have to take steps to control imports. He viewed money laundering as another big issue for the developing and poor countries. Referring to the UN fact-finding report, he said about $1,000 billion had been laundered from the poor countries.
He expressed the confidence that in the second phase of China Pakistan Economic Corridor (CPEC), they would have to focus on agriculture productivity. He also stressed that they would have to learn from the Chinese urban planning.
The prime minister said the rapid urbanization brought with it two issues concerning the food security and environmental pollution and cited cities of Islamabad and Lahore where population had surged manifold.
He said they would have to focus on vertical development of the mega cities and learn and seek expertise from China, that had saved its cultivable land with a remarkable urban planning.
The prime minister, on the occasion, formally performed the launch of Forum and witnessed the exchange of documents ceremony between the concerned authorities of the two countries.
Chinese Ambassador Nong Rong said that CPEC would be game-changer for Pakistan, bringing an unprecedented progress and prosperity to the country. “The second phase of CPEC would focus on industrial and social cooperation. Through this Forum Pakistani and Chinese companies would have enhanced bilateral cooperation and relations,” saif the envoy.
The ambassador said the bilateral economic trade between the two countries had witnessed an increase of 61 percent during last year while direct investment from China to Pakistan had also increased on yearly basis.
He said various development projects under CPEC projects were underway including special economic zones and Gwadar free zone. The ambassador said the Chinese side was working closely with the Pakistani side to achieve the shared targets aimed at building future cooperation.
Speaking on the occasion, Chairman BOI and deputy secretary said that the Forum would go a long way in cementing the joint bilateral industrial ventures and cooperation and would provide a conducive environment for the local and foreign investment. They said the concerted efforts were ensured by the government to promote these bilateral relations.
