Companies commit $2bn to Pakistan’s housing and manufacturing sector

ISLAMABAD: Two companies on Wednesday committed $2 billion in investments to Pakistan’s housing and manufacturing sector after senior executives met the prime minister in Islamabad.

Prime Minister Imran Khan on Wednesday met with Xuzhou Construction Machinery Group Co. Ltd’s (XCMG) Global Sales President and General Manager Dr Hanson Liu, as well as the Chairman of the HSS Group, Syed Saman Hashmi, at the PM Office in Islamabad.

XCMG — described as China’s leading “total solution provider” for the global construction industry’s equipment and machinery — intends to set up a heavy equipment manufacturing plant and assembly line in Pakistan, according to a press release issued by the PM office.

XCMG, with its expertise of constructing high rise buildings and housing units, wants to partner with Prime Minister Khan’s ambitious Naya Pakistan Housing Programme (NPHP) to construct five million affordable houses over a period of five years for low-income segments of society.

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The premier said that the construction of the five million houses is a flagship programme of the government which will “open new opportunities for allied industries and the youth of the country”.

He welcomed HSS and XCMG’s “commitment and interest” in the housing and manufacturing sector.

Prime Minister Khan highlighted the steps that have been taken by the government in order to facilitate investors, reduce the cost of doing business and to improve the ease of doing business.

On December 13, while chairing a meeting on ease of doing businesses, the premier issued directives for the preparation of a comprehensive plan to simplify procedures related to government approvals.

“Providing [a] conducive and business-friendly environment to investors is [the] top priority of the government,” he said.

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