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The Federal Minister for Privatisation & Investment Dr. Abdul Hafeez Shaikh
while chairing a meeting here today with Chinese & Pakistani Businessmen,
reviewed the implementation status of Investment Agreements signed between
Pakistani & Chinese companies during Pakistan Business Forum held in November
2003 at Beijing, which was chaired by the President General Pervez Musharraf.
Dr. Hafeez Shaikh issued necessary instructions to the concerned officials to
speed up the execution of these agreements and progress made on fast track
basis should be reported accordingly. He also assured the Chinese investors
that all out support would be extended to them during the implementation
process and the bottlenecks in this regard would be removed.
During the Pakistan Business Forum at Beijing, which proved to be a major
break through in Pakistan-China economic relations, focus was made on various
sectors including Infrastructure, Machinery, Textiles, Automobiles,
Electronics, Chemicals, Engineering and Minerals.
The progress made in the projects of Adam Motors, Metro High Tech, Dewan
Farooque Motors, Baluchistan Wheels and T & T Textiles was found satisfactory,
while matters relating to the supply of natural gas to the projects, Customs
duty, Patent Act and Registration of supplies involved in the pharmaceutical
products were also discussed and necessary instructions to the concerned
ministries and departments were issued to facilitate the implementation of
these agreements.
The Secretary Ministry of Privatisation Mr. Ahmad Waqar and the Chairman Board
of Investment (BOI) Mr. Waseem Haqqi along with the representatives of the
concerned Ministries were also present during the meeting.
During Beijing moot 22 Joint Ventures, MOUs and LOIs were signed in the field
of Auto Sector (Vehicles & Motorcycles), Textile, Float Glass,
Pharmaceuticals, Paper Plup, Bottles and Cans. Besides private sectors
collaboration agreements, several bi-lateral cooperation agreements were also
signed in the presence of the Presidents of both the countries.