Islamabad: In a significant move to enhance economic ties between Pakistan and China, the Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, urged the Pak China Investment Company Limited (PCICL) to foster joint ventures and augment support for Chinese companies operating in Pakistan. The meeting, which included key figures such as PCICL Chairman Mr. Sun Bo and Managing Director Mr. Hassan Raza, focused on strategies to increase Chinese investment and support the expansion of Pakistan-based Chinese firms.

According to Press Information Department, the discussions highlighted the crucial role of PCICL in the second phase of the China-Pakistan Economic Corridor (CPEC), which prioritizes industrial development and business relocation. The Finance Minister emphasized the need for PCICL to redefine its market strategies and strengthen its advisory and financing roles to boost investment and trade flows between the two nations. He pointed out that facilitating joint ventures and supporting small and medium enterprises (SMEs) should be at the forefront of PCICL’s objectives.

During the meeting, Mr. Sun Bo and Mr. Hassan Raza updated the Minister on PCICL’s current initiatives aimed at enhancing Pakistan-China trade and investment links, committing to ongoing support for the cause. Mr. Sun Bo expressed gratitude towards the Minister for his support and reassurance towards fostering a conducive environment for investments and joint ventures.

Additionally, the Finance Minister assured Chinese investors of their security and highlighted the significant contributions of Chinese firms to Pakistan’s economic landscape. He reiterated the government’s dedication to promoting a business-friendly environment in the country, which is essential for attracting foreign investment and driving economic growth.

The meeting marks a pivotal step in strengthening economic collaboration between Pakistan and China, with a clear focus on mutual benefits and sustained growth in investment and trade.