Anti-Corruption Efforts
Prime Minister Shehbaz Sharif, accompanied by Deputy Prime Minister Ishaq Dar and Finance Minister Aurangzeb, addressed a business forum in Shenzhen, China, during his 5-day visit to the country.
In his address, Prime Minister Shehbaz Sharif emphasized the importance of the visit and congratulated China on organizing a successful business conference. He highlighted the significance of China’s development, particularly in Shenzhen, as an inspiration for Pakistan’s economic growth.
He underscored Pakistan’s commitment to combating corruption, noting the establishment of a business council to facilitate ease of doing business in the country.
Finance Minister Muhammad Aurangzeb provided insights into Pakistan’s economic progress, citing a significant decrease in inflation rates and a positive trend in various economic indicators.
He mentioned a projected reduction in the current account deficit and a decline in inflation rates, leading to improved affordability of essential commodities.
Aurangzeb also highlighted the stabilization of the Pakistani currency and increased foreign investment, reflecting growing investor confidence in the country.
Deputy Prime Minister and Foreign Minister Ishaq Dar emphasized Pakistan’s potential across multiple sectors, including IT and mineral resources.
He outlined initiatives by the Special Economic Zones Authority (SEZA) to attract investment and mentioned plans for the privatization of 84 institutions to stimulate economic growth.
During the visit, Prime Minister Shehbaz Sharif met with Zhu Xiaojiang, the founder and chairman of Chinese company Transition Holdings.
Discussions centered on the company’s current operations in Pakistan, particularly in mobile phone manufacturing, which has generated employment opportunities for thousands. Transition Holdings expressed interest in expanding its business in Pakistan, particularly in electric bikes and modern agriculture.
Prime Minister Shehbaz Sharif directed federal ministers and Pakistan’s ambassador to China to collaborate with Transition Holdings to develop an action plan for further investment in Pakistan.
Overall, the visit underscores Pakistan’s commitment to anti-corruption measures, economic reform, and fostering partnerships with international investors to drive economic growth and development.
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