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PM Shehbaz Sharif Invites Chinese Firms to Invest in Pakistan’s Textile Sector

ISLAMABAD: Prime Minister Shehbaz Sharif extended an invitation to Chinese firms, particularly those in the textile sector, to establish plants in Pakistan, pledging full support and facilitation from the government. Chairing a high-level review meeting on enhancing cooperation between Pakistan and China across various sectors, the Prime Minister emphasized China’s vital role in Pakistan’s economic development.

During the meeting, attended by Federal Planning Minister Ahsan Iqbal, Finance Minister Muhammad Aurangzeb, and other senior officials, Prime Minister Shehbaz highlighted the intention to strengthen bilateral cooperation in agriculture, information technology (IT), textile, and energy sectors, with a focus on boosting exports to China.

He stressed the importance of the second phase of the China-Pakistan Economic Corridor (CPEC), emphasizing the transformation of Gwadar port into a logistics hub through Chinese collaboration and the establishment of Agriculture Demonstration Zones under CPEC’s next phase.

Recognizing China’s potential to assist Pakistan in enhancing exports, the Prime Minister directed relevant ministries to develop new projects to promote Pakistan-China cooperation and foster business-to-business ties. This meeting precedes Prime Minister Shehbaz’s upcoming visit to China in response to President Xi Jinping’s invitation.

Addressing concerns about the safety of Chinese nationals in Pakistan, Prime Minister Shehbaz assured foolproof security measures and outlined a comprehensive security plan already in place. This assurance follows Beijing’s reaffirmation of commitment to collaborate with Pakistani authorities to strengthen security cooperation and ensure the safety of Chinese personnel, particularly in light of the recent Dasu attack.

Interior Minister Mohsin Naqvi, in a joint press conference with National Counter-Terrorism Authority (Necta) officials, called on Afghanistan to apprehend the militants responsible for the Dasu attack, where six individuals, including five Chinese nationals, lost their lives. Necta head Tahir Rai disclosed that the explosive-laden vehicle involved in the attack entered Pakistan via Afghanistan and revealed that 11 suspects had been arrested in connection with the incident.

In response to the attack, the federal cabinet approved the disbursement of $2.58 million as compensation to the families of the Chinese nationals killed in the Dasu attack. The government’s swift action underscores its commitment to safeguarding Chinese citizens and maintaining strong Pakistan-China relations amidst security challenges.

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