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A high-level 19-member investment delegation from Peoples Republic of China
led by Mr. Chen Jinhua President China Enterprise Confederation (CEC)
currently on an official visit to Pakistan held a meeting with Dr. Abdul
Hafeez Shaikh Federal Minister for Privatisation & Investment here today.
The Minister briefed the delegation regarding the economic reforms initiated
by the government and informed that these reforms have started yielding
results at macroeconomic level and capital market as well. The currency
exchange rates were stable, tax revenues, foreign reserves were higher in the
history of the country, our Stock exchanges were best performing in the world
and the Foreign Direct Investment (FDI) has doubled during the last three
years, he said.
Dr. Hafeez Shaikh added that in the first seven months of the current fiscal
year 57 % increase in the FDI has been witnessed as compare to the previous
year, which would further increase in the remaining period. After seven years
the growth of economy recorded above 6 %, which would surpass 7 % this year,
he hoped. The delegation was also briefed on the privatisation and
deregulation policies and the performance in this regard.
He further stated that 31 Chinese companies were successfully operating in
Pakistan in the Oil & Gas, IT, Telecom, Power Generation, Engineering,
Automobiles, Infrastructure and Mining sectors and noted that during the last
three years investment from China has increased, which needed to be enhanced
through serious, committed efforts by the private sector of both the countries
keeping in view our long term relations.
The leader of the delegation Mr. Chen Jinhua President China Enterprise
Confederation (CEC) one of the architects of China's economic planning and
reforms who was accompanied by top ranking CEO's of selected Chinese
Enterprises lauded the economic reforms undertaken by Pakistan under the
leadership of President General Pervez Musharraf and Prime Minister Shaukat
Aziz and said that there existed vast potential for Chinese companies to
invest in various sectors of Pakistan's economy. He stressed upon the
investors of both the countries to work together to explore new avenues and
opportunities to enhance the existing bilateral trade and investment relations
while ensuring the transfer of technology.