BEIJING: Prime Minister Shehbaz Sharif announced that Pakistan is implementing significant governance reforms to attract Foreign Direct Investment (FDI). During discussions in Beijing with Dr. Wu Fulin, President of China Exim Bank, Sharif emphasized Pakistan’s efforts to broaden the tax base and streamline business operations.
Sharif highlighted the positive outcomes of these reforms, noting substantial control over food sector inflation, a narrowing current account deficit, and more sustainable public debt levels. He expressed a desire for Pakistan to learn from China’s agricultural advancements to further boost the sector.
Discussing investment opportunities, Sharif mentioned that the ML-1 railway upgrade project is open for investment and expressed interest in Chinese participation in reviving the Karachi Circular Railway project. He praised China Exim Bank’s ongoing support in modernizing Pakistan’s industries, agriculture, and IT sectors.
The meeting also covered China-Pakistan joint venture projects and the role of China Exim Bank in facilitating trade financing to enhance Pakistan’s export potential in global markets.
Dr. Wu Fulin reaffirmed China Exim Bank’s commitment to prioritizing Pakistani projects. He underscored the significance of economic and financial cooperation within the framework of CPEC Phase II, emphasizing the strategic partnership between the bank and Pakistan to foster sustainable development under the Shared Prosperity concept.
