Chinese firm keen to invest in Pakistan’s mineral sector, says Islamabad

MCC Tongsin Resources, a research and investment Chinese company, has expressed keen interest in enhancing its investment in Pakistan’s mineral and mining sector, according to a statement issued by Islamabad.

The interest was expressed by Chairman of MCC Tongsin Resources, Wang Jicheng, during a meeting with Prime Minister Shehbaz Sharif in Islamabad on Friday, read a statement by the Ministry of Information and Broadcasting.

During the meeting, the Chinese company gave a detailed briefing to the prime minister regarding the construction of a mineral park in Pakistan and informed about its further investment plan.

Welcoming the Chinese company, Prime Minister Shehbaz invited the Chinese firm to invest in Pakistan’s mining sector and assured it of maximum facilitation.

He said the government is taking steps on a priority basis to increase foreign investment in the country.

As per the statement, the prime minister invited the Chinese company to invest in the mineral sector in Pakistan from mining to the production of export goods.

“The investment will be extended full facilitation for extraction of minerals, their processing and export of their products to enhance the country’s exports,” the PM was quoted as saying.

Shehbaz directed the concerned federal ministers and officers to consult with the Chinese company and also directed to include the Chief Minister of Balochistan and relevant departments and stakeholders of the province in the consultation process.

“China is Pakistan’s long-standing friend and important partner in development. He said China helped Pakistan in difficult times, for which the entire Pakistan nation, is grateful to the Chinese leadership and people,” said Shehbaz.

Neighboring allies, Pakistan and China have enjoyed a robust economic relationship that has deepened significantly over the past few decades.

The cornerstone of this relationship is the China-Pakistan Economic Corridor (CPEC), a multi-billion-dollar infrastructure project.

Earlier, during the Fifth Round of the China-Pakistan Foreign Ministers’ Strategic Dialogue, both countries agreed to deepen and substantiate Beijing’s eight major steps to support high-quality Belt and Road cooperation and forge an “upgraded version” of the CPEC by jointly building a growth corridor.