PM Nawaz Sharif meets consortium of Chinese companies

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ISLAMABAD (APP): Prime Minister Muhammad Nawaz Sharif on Friday said the country's economic outlook had altogether changed in last three years and was being acknowledged globally.

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Talking to a consortium of Chinese investment companies here at the PM House, the Prime Minister said Pakistan was among the year's global top 10 improvers in 'Doing Business 2017' report.

The Prime Minister expressed satisfaction that Standard & Poor's (S&P) had also upgraded Pakistan's ranking from B- to B.

He mentioned that inflation was continuously on downward trend and reduction in petroleum prices also helped in decreasing inflation, with foreign exchange reserves increased to over US$24 billion.

Nawaz Sharif said the country's investment policy had been designed to provide a comprehensive framework for creating a conducive business environment for the attraction of Foreign Direct Investment.

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He said the country's policy trends had been consistent, with liberalization, de-regulation, privatization, and facilitation being its foremost cornerstone.

The Law of Special Economic Zones (SEZ) has been made to meet the global challenges of competitiveness to attract FDI.

Warmly welcoming the delegation, the Prime Minister appreciated the Chinese delegation's fruitful interaction with Ministries of Finance, Petroleum and Natural Resources, Secretary Water and Power and Capital Development Authority.

The Prime Minister expressed hope that members of the Chinese delegation would have a productive visit in the backdrop of briefing by various Ministries about immense potential for investment in Pakistan's infrastructure development, energy and communication sectors.

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He expressed his gratitude to the leadership and brotherly people of the People's Republic of China for their all-weather support, getting stronger with each passing day.

The China Pakistan Economic Corridor is a game changer that is going to transform the lives of the billions of people of the region, the Prime Minister said.

The members of the visiting delegation lauded the vision of the Prime Minister for economic revival and putting the country on development path.

They said Pakistan was fully ready as well as capable of absorbing and capitalising the Foreign Direct Investment.

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The delegation apprised the Prime Minister of bringing US three billion Investment Fund to Pakistan because of his vision focusing on infrastructure development and energy sectors.

The Chinese delegation also expressed its intent to explore possibility of starting a new airline in Pakistan after the permission from the government of Pakistan.

The Chinese side said that it is actively pursuing its investments in infrastructure, power, aviation and tourism sectors of Pakistan.

"We fully appreciate the vision of Prime Minister Muhammad Nawaz Sharif which enunciates that economic prosperity is an offshoot of infrastructure connectivity and self sufficiency in the energy sector," the members of the delegation stated.

The delegates said the government under the visionary leadership of Prime Minister Muhammad Nawaz Sharif had done enormous work in infrastructure development and attaining energy self- sufficiency.

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"The present government has very liberal investment regime that offers an ideal and investor friendly environment for which the leadership role of Prime Minister Muhammad Nawaz Sharif is highly appreciated," they said.