China to help Pakistan

BEIJING (APP) - The Chinese Vice-Minister for Industries and Information Technology assured that his country will help Pakistan in developing agriculture and telecom sectors. He held out the assurance during his meeting with visiting Minister for Investment Senator Waqar Ahmed Khan. The two sides also reached an agreement to strengthen their interaction to bring together the relevant private sectors of the two countries to achieve the results. On the occasion, Senator Waqar briefed the Chinese Minister who had visited Pakistan in 1993, about the investment opportunities his country offers for foreign investment particularly for Chinese. Meanwhile, Commerce and Sourcing House (CASH), a Pakistani company based in Shenzen China organized an 'Agriculture Investment conference in collaboration with Ministry of Investment and Pakistan Embassy in Beijing. CASH plans to bring a group of Chinese investors in agriculture sector to Pakistan in near future for which discussion was also held with the BOI. The Chinese companies participated in the conference include manufactures of agriculture machinery, agro-based industry, poultry and husbandry equipment, horticulture and other related agriculture fields. Addressing the conference, Waqar Ahmed said, Pakistan attached great importance to its socio-economic partnership with China. The two sides geared up their cooperation for developing KK highway and digging a tunnel along this land link. Through this tunnel, he pointed out not only we lay gas pipeline to fetch gas from Turkmenistan but also lay a railway track and optical fibre. These utilities could also be used by our Chinese brethren. Another area, he said is the Textile sector, the Minister said and added that his country is ready to seek Chinese help to expand production not only to meet our domestic requirements, but also to export to other countries, including USA with whom his country is holding negotiations on favourable terms. The Investment Minister noted that China has allocated a good amount of soft loan facilities for the less developed countries and we wish that some portion of this amount to be invested in Pakistan. He pointed out that Pakistan has established a Chinese specific Special Economic Zone in Punjab province, where his country has offered tax-free import of plant and machinery for setting up industries in the Zone. The investors would enjoy tax holidays for 5 years, while there is no bar for repatriation of profit earned from these industries. Meanwhile, Pakistan and China will intensify their cooperation in the fields of telecommunications, sugarcane production, housing and management of water resources.

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