|
|
|
|
|
The Federal Minister for Privatisation & Investment Dr. Abdul Hafeez Shaikh
has formed Sector Committees for speedy implementation of Chinese Investment
Agreements. He was chairing a meeting with the Chinese & Pakistani
Businessmen, for reviewing 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. The Sector Committees will submit the progress reports to
the Minister in this regard.
Dr. Hafeez Shaikh issued necessary instructions to the concerned officials to
speed up the execution of these agreements and progress should be made on fast
track basis. 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 on the spot 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.