Canada is ready to equip Pakistan with latest technology in oil/gas and power sectors to overcome the shortage of energy being faced by the country. President Pakistan-Canada Business Council Anwar Merchant stated this while speaking at Lahore Chamber of Commerce and Industry (LCCI) on Monday.
LCCI Acting President Mubasher Sheikh, former LCCI president Mian Misbahur Rehman, former SVPs Sohail Lashari, Abdul Basit, former VP Mohammad Ali Mian and convenor SME standing committee Rehmatullah Javed were also present on the occasion.
Anwar Merchant, who spoke at length on various issues, said that there are a number of other sectors wherein joint ventures could be initiated between the two countries in the larger interests of the people living in this part of the world. He said that the rapid economic growth of Pakistan has started making ripples in the outer world and a large number of Canadians are planning to make investment in Pakistan so this is high time that the Pakistani businessmen should avail the opportunity.
While paying tributes to present government, particularly Punjab Chief Minister Chaudhry Pervaiz Elahi for bringing consistency in policies, he said that in the coming years Pakistan would be a hub of business activities and standing tall among the comity of nations.
Speaking on the occasion, LCCI Acting President Mubasher Sheikh said that there is a great scope of cooperation in various industrial sectors between the two countries. "The possibility of undertaking joint ventures in areas like pharmaceuticals, electrical appliances, food stuff, leather, textiles, engineering goods, agro-based industries, chemicals, fertilisers, mineral and mineral based industries, oil and gas exploration, telecommunication, seaport development, dams, power generation, areas related to education, health and environment are very bright," he added.
He said that Pakistan is planning to establish 13 nuclear power plants and is ready to give them under the supervision of International Atomic Energy Agency. Canada may seriously consider setting up such plants in Pakistan. He said that the trade between the two countries has averaged around 436 million dollars over the last three years. "During this period Pakistan's total exports amounted to 584.7 million dollars against its import of 723.3 million dollars. While Pakistan's import from Canada had grown by 56 percent during this period, its exports to Canada had increased by only 15 percent. The trade deficit of Pakistan with Canada needs to be narrowed down," he added.
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