Pakistan to get another investment worth $3billion from China
- China is going to invest $3billion for the clean drinking water system in Lahore.
- PBIT is working to persuade domestic and foreign investors to invest in small and heavy industries.
- PBIT will establish establishing an industrial zone in the middle of south Punjab.
An environmental company in China is ready to invest $3billion in the clean drinking water and sanitation system in Lahore.
The company’s name is not revealed yet, but this is the same company that had completed a couple of hydro projects in Pakistan.
Earlier in an interview, Chairman of Punjab Board of Investment and Trade (PBIT) SardarTanveerIIyas Khan said:
“There is no water management and waste collection system in Lahore. If things go smoothly, then the city will get an entirely new and modern water management system.”
The chairman also said that the previous provincial government had established many companies to solve water issue but it failed to deliver within the stipulated time period.
Encouraging overseas Pakistanis:
He also told that his department has an eye on overseas Pakistanis in order to encourage them to invest in different ventures in the provincial industrial zones.
“There is 7.6million registered overseas workforce In Punjab which sends almost Rs2 trillion annually,” he said.
It is the biggest motivation for us because this workforce can invest in the different industrial zones and processed food industry, Chairman said PBIT said.
As per details by the PBIT, projects worth $3 billion had been initiated in the past three years. Moreover, additional initiatives worth $3 billion are going to take place.
Persuading domestic and foreign investors:
The chairman PBIT said that his department is working to persuade domestic and foreign investors to invest in small and heavy industries.
“If the government wants to see huge investment flows then the departments’ intervention should be minimal,” Chairman said.
Establishment of an industrial zone:
The chairman also pointed out that agriculture and livestock production is tremendous in Punjab and we are seeking assistance from investors for establishing an industrial zone in the middle of south Punjab.
Pakistan and China have signed framework agreements on industrial, agricultural and social-sector cooperation and by making joint ventures with China, job opportunities will be created and it can also enhance the skills of local people.