Investment Division and Board of Investment (ID&BoI) in collaboration with Ministry of Finance held Pak-China investment forum here on Tuesday with an aim to provide an interactive platform to the newly launched Pak-China Investment Company Ltd (PCICL) to devise business plan and expand its clientele.
The meeting was presided over by Minister for Privatisation and Investment, Shahzada Alam Manoo while Acting Secretary ID & BoI Major Iqbal Ahmad (Retd), Investment Advisor, Ministry of Finance, Dr Junaid Ahmad along with other BoI officials were also present.
Among others, the meeting was attended by Chen Jianbo, CEO PCICL, Iqbal Ashraf, Managing Director PCICL, representatives of Plum Qingqi Motors Ltd, China Building Material Industrial Corp (CBMC), Harbin Power Engineering Company, CMPak Limited and various other Chinese companies operating in Pakistan. In his welcome remarks, Minister for Privatisation and Investment, Shahzada Alam Manoo acknowledged the strong ties between Pakistan and China, which he said were deeply rooted in the ethos, minds and hearts of both the nations.
He said, "China and Pakistan are strategic partners and have been co-operating in a number of large projects in the energy sector, mining, electronic, telecommunications and infrastructure projects including up-gradation of Pakistan Railways."
The Minister was of the view that the establishment of Pak-China Investment Company was another important milestone in economic relations, as the company will play the role in exploring the potential of Pakistan.
In their separate talks, Chen Jianbo and Iqbal Ashraf briefed the participants about the background of their company and highlighted its various objectives. Ashraf said that Pak-China Investment Company was established not only to promote economic cooperation between the corporate sectors of both the countries but it will also redefine the role of Development Finance Institutions (DFIs) in underdeveloped countries. PCICL is part of the five-year economic development cooperation with China, which is having largest paid up capital of $200 million. It will help various sectors of Pakistan to seek Chinese investments.