Belarusian companies visit ICCI to explore development of business cooperation - Fnni.org

Belarusian companies visit ICCI to explore development of business cooperation - Fnni.org

Islamabad (FNNI) A delegation of Belarusian big companies led by Mr. Vladimir Ulakhovich, Chairman, Belarusian Chamber of Commerce and Industry visited Islamabad Chamber of Commerce and Industry to explore development of business and economic cooperation with Pakistan More »

Google’s DeepMind Is Improving Its Human Speech Abilities

Google’s DeepMind Is Improving Its Human Speech Abilities

With the growing use of virtual personal assistants such as Google assistant, Apple’s Siri, Microsoft’s Cortana and Amazon’s Alexa, AI speech itself as well as the language it uses is becoming more and more important. Currently, More »

Nats’ Stephen Strasburg Relieved by Elbow Diagnosis

Nats’ Stephen Strasburg Relieved by Elbow Diagnosis

WASHINGTON — He isn’t out of the woods yet, but Washington Nationals ace Stephen Strasburg is already breathing a sigh of relief after arm troubles knocked him out of his first start back from injury. More »

CM FELICITATES PAKISTANI CRICKET TEAM-Fnni.org

CM FELICITATES PAKISTANI CRICKET TEAM-Fnni.org

LAHORE ( FNNI ) CM Punjab M. Shehbaz Sharif has felicitated Pakistani cricket team on winning the second one-day match and the series against West Indies. In a message of felicitation, the CM said that Babar Azam played an important role in the victory in the second one-day match and deserve credit for his second consecutive century. More »

Turkish delegation visits ICCI to explore business collaborations- Fnni.org

Turkish delegation visits ICCI to explore business collaborations- Fnni.org

Islamabad (FNNI ) A delegation of MUSIAD visited Islamabad Chamber of Commerce and Industry led by Vice Chairman for Fair, Forum and Organization Commission Omur Yildiz and discussed possibilities for further enhancing business collaborations between the private sectors of Turkey and Pakistan. More »

 

Category Archives: Business

Load shedding to end from Pakistan by Nov: 2017 – Dr. Miftah Ismail – Fnni.org

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Islamabad (FNNI) Dr. Miftah Ismail, Minister of State and Chairman Board of Investment said that with the energy reforms and positive initiatives of the current government, electricity load shedding from Pakistan would end by November 2017. He said for the last 70 years, only 23000MW installed capacity of electricity was achieved in Pakistan while the current government has started many energy projects due to which 25000MW electricity would be generated in Pakistan. He said this while addressing business community at Islamabad Chamber of Commerce and Industry.

He said another LNG terminal would be operational by July or August this year and LNG gas supply would be enhanced from 600MMBTU to 18000 MMBTU that would reduce gas shortage from the country. He said the government was exploiting cheap energy sources to bring down gradually the cost of electricity that would also reduce the cost of doing business in Pakistan and make our industry more competitive. He was hopeful that new gas connections for industry would be opened by August this year.Pic-April-04,-17

Dr.Miftah Ismail said that level playing field would be provided to the Pakistani and Chinese investors in CEPC projects and interest of local business community would not be compromised. He said zero income tax and zero duty on import of machinery would be available to investors for investing in S EZz under CPEC for a certain period while the government would ensure supply of electricity and gas to the investors. He said if the private sector was interested in developing industrial zones under CPEC, the government would encourage it. He Invited ICCI delegation to his office for a consultation regarding the establishment of ICT Model Industry Zone in Islamabad under CPEC.

Speaking at the occasion, Khalid Iqbal Malik, President, Islamabad Chamber of Commerce and Industry said that due to lack of new industrial zone in Islamabad, many industrialists were shifting to other provinces and stressed that BoI should accelerate efforts for setting up ICT Model Industrial Zone in Islamabad under CPEC in consultation with ICCI to encourage industrialization. He said FDI and exports in other regional countries were on the rise while Pakistan was witnessing a decline in FDI and exports. He stressed that government should make exports and investment friendly policies in consultation with the private sector to arrest this unhealthy trend.

He stressed that BoI should keep ICCI in the loop about investment opportunities and JVs in various sectors of Pakistan’s economy so that FDI could be promoted in Pakistan with joint efforts. He said that Pakistan Railways in cooperation with ICCI had set up a dry port in Islamabad in 2005. He stressed that government should further expand the said dry port to meet the future business needs in the scenario of CPEC.

Khalid Malik Senior Vice President ICCI welcomed Chairman Boi. Tahir Ayub Vice President ICCI, Khalid Javed, Mian Akram Farid, Nasir Khan, Zafar Bakhtawari, Naeem Siddiqui, Khalid Chaudhry and others also spoke at the occasion.

The liquidity crunch is the main and fundamental cause of the decline in textile export: Muhammad Saeed Sheikh – Fnni.org

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FAISALABAD(FNNI) The liquidity crunch is the main and fundamental cause of the decline in textile export and government must arrange immediate payment of all refund claims to harvest the benefits of exempting five major export sectors including textile and textile package of Rs.180 Billion.

In a statement issued here today, Engineer Muhammad Saeed Sheikh President Faisalabad Chamber of Commerce and Industry (FCCI) warned that continuous decline in national exports will foment unemployment in addition to further widening the import-export deficit. He said that despite the fact that European Union had granted GSP Plus status to Pakistan from 2014, we failed to give any support to our declining exports. The government has also ensured uninterrupted power and gas supply to industrial sectors but still, the declining trend in export is continuing. He said that textile is the mainstay of the national economy and despite the worst situation, it has successfully maintained its position as leading export sectors of the country.FCCI 06 It has also privilege to provide job to 38 % population but they have been left at the mercy of Federal Board of Revenue (FBR). He said that the refund claims of exporters are piling up with the FBR and they have to get fresh loans at high markup rate to fulfill the needs of working capital. He said that the chambers of commerce and industry and textile associations have been pinpointing these issues since long. The government has also given assurance to clear all pending claims but the factual position is that more and more refund claims are piling up with the payment of just a peanut of the total number of claims. He said that Prime Minister Nawaz Shareef and Finance Minister Ishaq Dar had openly acknowledged this issue. They had also assured that a comprehensive strategy will be evolved to permanently settle the refund issue. He said that despite these assurances, they are still facing problems which are further complicated with each passing day. He said that during this financial year, the five major export sector including textile were exempted from the sale tax but despite this fact, the sale tax is being deducted on almost all exportable inputs and now this amount has been increased to unbearable proportions and is badly affecting their export businesses. He said that government should announce a clear policy to finally clear all the pending refund claims positively during the month of April so that the declining trend in the export could be checked. He warned that the decline in export will continue if immediate remedial steps were not taken.

INTERNATIONAL ECONOMIC EXPERT AND FORMER WORLD BANK SENIOR VICE PRESIDENT PROF. JUSTIN YIFU LIN CALLS ON CM – Fnni.org

CM PUNJAB (1)

Lahore (FNNI)International economic expert from China’s renowned Peking University and former World Bank Senior Vice President Prof. Justin Yifu Lin called on Chief Minister Punjab Muhammad Shehbaz Sharif here on Sunday and exchanged words on Pak-China relations, strengthening of Pakistan’s economy, the establishment of industrial parks, and economic stability of the country. While talking to the occasion international economic expert from China’s renowned Peking University and former World Bank Senior Vice President Prof. Justin Yifu Lin said that Chief Minister Punjab had played a leading role in Pakistan’s progress particularly Punjab and his services for the progress and development of the people of Punjab were commendable. Shehbaz Sharif was a true leader who had taken very important initiatives to strengthen the economy of the province, he added. The examples of Punjab’s progress under the leadership of Shehbaz Sharif are given in foreign countries as well. Prof. Justin Yifu Lin said that we should learn from the significant achievements made by the Shehbaz Sharif and I was pleased to meet Shehbaz Sharif today. While talking on the occasion, the Chief Minister said that CPEC has given a new start to Pak-China friendship.CM PUNJAB (2)The unexpected development of China is a role model for rest of the world. Due to CPEC, Pakistan is on the way to progress. The Chief Minister said that we would never forget the gift of China’s President Xi Jinping in the shape of CEPC. CPEC’s immense benefits have started revealing. CPEC is a game changer to strengthen Pakistan’s economy. Some entities are worried from the gift of CPEC. The Chief Minister said that these entities are making conspiracies against the CPEC but no such conspiracy will be succeeded. CPEC will move forward and Pakistan will make progress. The Chief Minister said that CPEC will also benefit other countries of the region. CPEC is not only the billion dollars investment but it is that path of progress which will benefit the entire region and the outcomes of this incredible project will fasten the future’s enlightened journey and will enhance regional cooperation. The Chief Minister said that for the establishment of industrial parks China has played an outstanding role. The Punjab government likes to benefit from the expertise of China for the establishment of industrial parks especially garments industrial zone. The Chief Minister said that we are thankful for the Chinese leadership, government and people for their cooperation in the progress and development of Pakistan. There is no precedent like 36 billion dollars Chinese investment in the energy sector under the CPEC. Energy is indispensable for the fast track economic development and prosperity of the country. Under the CPEC, fast-track work on different projects in Pakistan including Punjab is in progress and many projects are near completion. The Chief Minister said that China’s President anti-corruption vision is splendid. The PML-N government has also adopted a zero tolerance policy against corruption in the province. There is indiscriminate action against those involved in corruption. The Chief Minister said transparency and merit are the hallmarks of my government and even the international institutions are acknowledging corruption reduction in Pakistan. On this occasion, Prof. Justin Yifu Lin also presented his book to the Chief Minister. Besides Chinese Consul General Long Dingbin, Provincial Ministers Malik Nadeem Kamran, Ayesha Ghous Pasha, Adviser Dr. Umer Saif, Chief Secretary, Chairman P&D, secretaries of the concerning departments and other high authorities, renowned industrialists were also present on the occasion.

Chinese Cos show interest in energy, transport, real estate and other sectors in Pakistan – Fnni.org

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Islamabad (FNNI) The Chinese investors considered Pakistan a potential country for business and have come here to explore opportunities for JVs and investment. This was said by Mr. Yin Lin Bing, Secretary General, Worldwide Business Culture Exchange Centre while addressing business community at Islamabad Chamber of Commerce and Industry. He visited ICCI leading a 29 member delegation of Chinese companies representing various provinces of China visited Islamabad Chamber of Commerce and Industry.  Mr. Wang Zihai, President, Pak-China Joint Chamber of Commerce and Industry also accompanied the delegation. The delegation was representing various sectors including power generation, manufacturers of transformers and electrical equipment, hydropower construction, transport, automobile, textile & clothing,  food processing, mechanical & electrical trade, construction & real estate development, ship management services, mining machinery, pharmaceuticals, service industry and others.Pic-March-18,-17Speaking at the occasion, Yin Lin Bing, Secretary General, Worldwide Business Culture Exchange Centre (WBCEC) of China said that in pursuit of Chinese President’s One Belt One Road strategy, WBCEC was taking Chinese business delegations to various countries. He said so far WBCEC has taken Chinese delegations to 29 countries and signed contracts and MoUs of more than US$ 50 billion. He said Chinese investors considered Pakistan a potential country for business and have come here to explore opportunities for JVs and investment. He said both countries have good potential to cooperate in pharmaceuticals, transport, industrial parks and many other areas. He hoped that their visit would contribute to further strengthen cooperation between Pakistan and China. He stressed that ICCI should also take its delegation to China to explore new areas of mutual cooperation.

In his welcome address, Khalid Iqbal Malik, President, Islamabad Chamber of Commerce and Industry welcomed the delegation and said that CPEC project has created a good platform to put private sectors of both countries on a long-term partnership. He said that Pakistani entrepreneurs were keen to enter into joint ventures with Chinese counterparts in this historic project. He said China was importing raw material and goods worth billions of dollars every year to meet needs of its domestic industry and urged that China should focus on imports from Pakistan that would also improve our trade balance with it.

He briefed the Chinese delegation about investment potential in various sectors of Pakistan’s economy including power generation, infrastructure development, real estate & construction, medical science and many other areas. He stressed that Chinese investors should bring technology and set up joint ventures with Pakistani counterparts in areas of interest. He assured that ICCI would provide all possible cooperation to Chinese investors in such efforts. Khalid Malik Senior Vice President ICCI and others also spoke at the occasion. At the end, both sides held B2B meetings. Both sides held B2B meetings

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SHEHBAZ SHARIF ADDRESSES PUNJAB-TATARSTAN BUSINESS FORUM – Fnni.org

CM Punjab-3

Lahore (FNNI) Chief Minister Punjab Muhammad Shehbaz Sharif has said that Pakistan and Russian Federation have economic relations for the last many decades, and trade is also carried out through barter system between the two countries. Pakistan also has economic relations with Tatarstan and Prime Minister Nawaz Sharif visited Tatarstan in 1999. There are strong opportunities for promoting bilateral economic cooperation between Pakistan and Tatarstan. Both the countries can further promote bilateral relations in agriculture, engineering, informational technology, energy, petrochemical, livestock, tourism and other sectors. I invite the investors of Tatarstan to invest in Pakistan, especially in the Punjab. We will provide them every opportunity.CM Punjab-2The investors of Tatarstan should sit together with the investors of Pakistan and the Punjab, and develop a roadmap for promoting bilateral economic relations. Punjab has vast opportunities for investment due to its strong infrastructure. The investors of Tatarstan should come forward and invest here. As a result of 54 billion dollars investment under the CPEC, trade and economic activities have been boosted in the region, and it can be helpful in promoting economic relations with Tatarstan and Russian Federation. With the help of gigantic project of CPEC, economic and trade relations with Pakistan can be boosted with the Russian Federation and Tatarstan. Serious efforts have been made under the leadership of Prime Minister Nawaz Sharif to overcome the challenges of terrorism, fanaticism and energy crisis. Insha’Allah, with the completion of energy projects, the decade-long load shedding in the country, would come to an end from the beginning of next year, and there would be light everywhere.
Chief Minister PunjabChief Minister Muhammad Shehbaz Sharif expressed these views while addressing the Punjab-Tatarstan Business Forum in a local hotel, today. The President of the Republic of Tatarstan, Rustam Minnikhanov attended the forum as the chief guest. While addressing the business forum, Chief Minister Shehbaz Sharif said that we welcome the President of Tatarstan and his delegation to Pakistan and Lahore from the core of our hearts. The people of Punjab and Pakistan are happy over your visit, he added. Your tour would begin the new era of trade and economic relations between Pakistan and Tatarstan. There is strong economic potential in Tatarstan, and it has good expertise in e-governance, information technology, agriculture, and livestock. We want to get benefit from your experience, vision, and expertise. Your e-governance model is also impressive. We will benefit from your expertise in the field of IT. The use of IT has been promoted in different departments. The 700 police stations in the Punjab have been inter-connected through the IT. 50000 tablets are being given in primary and middle schools; while lakhs of students get laptops every year on merit and performance. He said the Punjab is the biggest province of Pakistan with the population over ten crores, and there is the tremendous potential for investment in different fields. Due to the energy crisis, the investors are reluctant to invest in the country, and this energy crisis has damaged the national economy. However, the energy crisis is about to end due to sincere efforts of the government. Out of 54 billion dollars investment under the CPEC, 36 billion dollars are being spent on energy projects. Work on the energy production projects from coal, solar, wind, hydel, gas and other sources, is in progress speedily. While federal and the Punjab governments are also setting up 3600 megawatt gas power projects from their own sources; and these would be completed in record time. He said that investment potential is available in the tourism sector in Pakistan, especially in the Punjab. Tatarstan is also expert in this field and we can jointly work to promote tourism. Similarly, there is big potential in the livestock sector. The Punjab Government has made most modern slaughter house, and livestock is also being promoted. Meanwhile, steps have been taken for promotion of halal food. He said that cricket is a popular game in Pakistan, while the game of football is also liked. Tatarstan and Pakistan can also promote cooperation in the sports field, and Tatarstan can extend cooperation for the promotion of the game of football. Chief Minister said that Islam is a religion of peace. It is incorrect to link terrorism and fanaticism with Islam. We condemn the elements linking terrorism and fanaticism with Islam, as Islam is the religion of peace. Terrorism and fanaticism have no link with Islam; no one is authorized to shed blood of the innocent people. He said that Pakistan is a victim of terrorism and the Pakistani nation has rendered great sacrifices in the war against terrorism. A terrorist has no religion nor has any link with any particular color or caste. Similarly, he has no geographical identity. The killer of innocent humans is only a terrorist. Islamic teachings teach equality, justice, promotion of religious harmony and provision of equal opportunities for progress. The ‘Misak-e-Madina’ is the highest example of it. Steps have been taken under the leadership of Prime Minister Nawaz Sharif for the promotion of religious harmony, love, and brotherhood because it is the way forward. He said that terrorism is an international issue, and we will have to jointly fight it. The people of Pakistan are peaceful citizens. The promotion of inter-faith harmony is need of the hour. We will have to work collectively to eliminate terrorism and fanaticism so that this world could become a peaceful and secure place. The President of Tatarstan, Rustam Minnikhanov said, in his address, that he is pleased to see the wonderful progress in the Punjab. Punjab is the most developed province of Pakistan and the people are known for their hospitality. He said that Tatarstan and Pakistan have economic relations which are needed to be further promoted. He said that cooperation with the Punjab Government, in different fields, would be enhanced to work collectively. Provincial Finance Minister Ayesha Ghous Pasha presented the address of welcome and gave a detail of facilities for foreign investors as well as the opportunities of investment in the Punjab. The head of Tatarstan’s trade agency, Ms. Taliya Minullina spoke about prospects of cooperation in different fields between Tatarstan and the Punjab Government. The agreement was signed between Lahore Chamber of Commerce and Tatarstan Chamber of Commerce and Industry. President Lahore Chamber, Abdul Basit and representatives of Tatarstan Chamber signed the agreement. Similarly, MOU was signed for cooperation in IT. VC Punjab Information Technology University, Dr. Umar Saif and the head of Tatarstan Information University also signed the MOU. Provincial Ministers, parliamentarians of Pakistan and Tatarstan, investors of both the countries, as well as high officials of the Punjab, were also present on the occasion.

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Lithuania keen to promote bilateral trade with Pakistan – Fnni.org

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Islamabad (FNNI) Lithuania was keen to promote bilateral trade and economic relations with Pakistan as it considered Pakistan a promising country for business relations. This was observed by H. E. Mr. Audrius Bruzga, Ambassador of Lithuania to Pakistan-based in Turkey while addressing business community at Islamabad Chamber of Commerce and Industry. He was accompanied by Muhammad Masud Khan, Honorary Consul General of Lithuania in Pakistan and Mrs. Kristina Babiciene, Second Secretary of Lithuanian Embassy.Pic-March-18,-17He said Lithuania was a well-integrated with the European Union and it wanted to reach out to Pakistan for more cooperation in multiple fields. He said Lithuania had advanced technology and expertise in solar energy while it was generating more than 56% of its energy through renewable sources. He said Lithuania could help Pakistan in overcoming its energy crisis. He said ICCI should form a delegation for Lithuania to explore new areas of mutual cooperation.

Speaking at the occasion, Khalid Malik, Senior Vice President, Islamabad Chamber of Commerce and Industry said that diplomatic relations between Pakistan and Lithuania were established in 1994 and both countries have held many consultations to improve bilateral relations in many areas including economic, trade, investment, education, science & technology. However, he said bilateral trade between Pakistan and Lithuania was negligible as there was no direct interaction between private sectors of both countries. He stressed that Pakistan and Lithuania should focus on the frequent exchange of trade delegations and market information to explore new avenues of mutual cooperation.

He identified textiles, furniture, food processing, petroleum refining, chemicals, agriculture machinery, electronics, information technology and medical science as potential areas of bilateral cooperation between both countries. He said to realize the actual potential of mutual collaboration, both countries should work on establishing direct links between their private sectors. He said Lithuania was doing more than 80 percent of its total trade with EU and Central Asian countries. He urged that Lithuania should enhance its imports from Pakistan as many Pakistan products could meet the needs of its consumers at competitive prices.

He said Pakistan was offering lucrative incentives to foreign investors in various sectors of its economy while CPEC was going to create many new opportunities for foreign investors in Pakistan. He emphasized that Lithuanian investors should be persuaded to explore Pakistan and joint ventures and investment.

Muhammad Masud Khan Honorary Consul General of Lithuania in Pakistan said that Lithuania has achieved remarkable progress as it transformed itself from an agriculture to high tech economy within a short span of 27 years. He said Pakistan could learn a lot from Lithuania for improving its economy. Mrs. Kristina Babiciene, Second Secretary of Lithuanian Embassy gave a detailed presentation on the economy of Lithuania. It was highlighted that Lithuania has set up 7 free economic zones for investment and foreign investors were given attractive tax incentives.

Tahir Ayub, Vice President ICCI in his vote of thanks appreciated the presence of everybody in the meeting.

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54 BILLION DOLLARS INVESTMENT OF CPEC HAS OPENED WAY FOR OTHER FOREIGN STOCK: SHEHBAZ SHARIF – Fnni.org

Lahore (FNNI) Punjab Chief Minister Muhammad Shehbaz Sharif has said that CPEC is the progressive venture for the success of individuals of Pakistan. Besides Pakistan, other countries in the region will also benefit from the project as it will generate economic activity which will create numerous employment opportunities here. Investment of 54 billion dollars through CEPC has opened up ways of foreign investment as CPEC is a game changer and guarantor of progress, he added. The Chief Minister said that the responsibility to execute this project of national interest successfully lies on us all as it will bring prosperity in Pakistanpak chiana. He said that CPEC is praised by friends and censured by adversaries and the individuals who are contradicting this open welfare venture are enemies of public. Negative and pother politics of sit-in trendsetters is the reason behind the delay in this important project likewise organizing successful PSL Final at Lahore was also reprimanded by them as such elements are against public interest due to their vested interests, he added. He said that Pakistan economy was bankrupt when PML-N came into power in 2013 as nepotism, defilement and loot did by past rulers have left the nation in murkiness. He shared gladly that today’s Pakistan is on the way of improvement out of the winding of issues and a great deal more steady when contrasted with 2013 which is the result of solid strategies of Prime Minister Nawaz Sharif.

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 MIRZA ISHTIAQ BAIG HONORARY COUNSEL GENERAL OF MARAKO CALLS ON CM PUNJAB – Fnni.org

Lahore (FNNI) Mirza Ishtiaq Baig honorary Counsel General of Marako and Vice President of Federation of Pakistan Chamber of Commerce & Industry called on Punjab Chief Minister Muhammad Shehbaz Sharif, here today. Mirza Ishtiaq Baig while acclaiming the initiatives of Punjab Government for providing best infrastructure and other facilities said that the credit of fast advancement in Punjab goes to the energetic leadership of Shehbaz Sharif. He said that there is the conducive environment for investment in the province as the government has taken best possible steps for its promotion. The Chief Minister at this occasion said that Pakistan has attained economic stability under the dynamic leadership of Nawaz Sharif and concrete policies of the government have restored the confidence of investors once again. Pakistan is heading forward and magnificent venture of CPEC has open up various incredible opportunities.

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FCCI is making strenuous efforts to put Pakistan on the road to progress and prosperity: Rana Sikandar-e-Azam – Fnni.org

FAISALABAD (FNNI) Faisalabad Chamber of Commerce & Industry (FCCI) is making strenuous efforts to put Pakistan on the road to progress and prosperity with the active collaboration of the business community of Faisalabad, said Rana Sikandar-e-Azam senior vice president FCCI.

He was addressing a joint meeting of the FCCI Standing Committee of Foundry & Textile Engineering and Standing Committee on Agriculture and Allied Engineering here today. It was also attended by Mr. Jalil Ahmed Malik Chairman FCCI Standing Committee on Foundry and Textile Engineering and Amjad Ali Amjad Chairman FCCI Standing Committee on Agriculture and Allied Engineering in addition to 30 participants from the concerned sectors.Rana Sikandar Azam termed the Foundry and Agriculture as the basic and fundamental industry of Pakistan towards repaid industrialization. He especially appreciated the efforts of Vice President Engineer Ahmed Hassan and said that he is taking a keen interest in the overall development of these sectors. Rana Sikandar urged upon the participants to cooperate with him so that he could resolve the issues confronted by these important segments of the national economy.

Engineer Ahmed Hassan underlined the importance of the youth for the speedy and scientific development of foundry industry in Pakistan and said that it has made tremendous progress at the international level but we are still sticking to the century old technology. He said that the old guards should realize that introduction of new technology in foundry industry is imperative to improve the productivity as well as the quality of their products and for this propose latest technologies should be introduced in our foundries and manufacturing units.

He also urged upon the participants to introduce better management practices in their units to ensure optimum utilization of available resources, energy, and human forces. He said that we should invest in the training of our workers in order to improve their skills which will ultimately give us benefits in the form of the production of high-quality products. He said that he will organize training workshop for the efficient workers at the local level in addition to sending them abroad for training proposes. He said that this phase should be completed immediately so that we could harvest the maximum benefits of CPEC. Continuing Engineer Ahmed Hassan said that China is getting 80 pounds per acre yield of wheat with mechanized farming whereas our production is hardly 35 to 50 mounds.

He said that we should manufacture latest and hi-tech agricultural appliances to cater to the needs of our small farmers. He said that he will have an exclusive sitting with Vice Chancellor UAF so that we could manufacture highly efficient but cheapest agricultural machinery in collaboration with UAF and China.

Amjad Ali Amjad chairman FCCI Standing Committee on Agriculture and Allied Engineering explained in detail the establishment of M-3 Industrial Estate which will give impetus to the establishment of a new industry in this region.

Haji Abdul Razaq, Muhammad Ashraf, Rana Shabir Ahmed, Muhammad Ismail, Abid Nazeer, Mirza Muhammad Muneer, Muhammad Abid Mr.  Abdul Rauf ,Tanveer Ahmed, Mirza Muhammad Nadeem, Shahid Mehmood, Abdul Rehman, Muhammad Abdullah, Muhammad Shakir, Tahir Shaukat and other members from the foundries of the Samundari road also participated in this meeting.

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29 member Chinese delegation visits ICCI to explore business collaborations – Fnni.org

Islamabad (FNNI) A 29 member delegation of Chinese companies representing various provinces of China visited Islamabad Chamber of Commerce and Industry led by Mr. Yin Lin Bing, Secretary General, Worldwide Business Culture Exchange Centre. Mr. Wang Zihai, President, Pak-China Joint Chamber of Commerce and Industry also accompanied the delegation. The delegation was representing various sectors including power generation, manufacturers of transformers and electrical equipment, hydropower construction, transport, automobile, textile & clothing,  food processing, mechanical & electrical trade, construction & real estate development, ship management services, mining machinery, pharmaceuticals, service industry and others. Speaking at the occasion, Yin Lin Bing, Secretary General, Worldwide Business Culture Exchange Centre (WBCEC) of China said that in pursuit of Chinese President’s One Belt One Road strategy, WBCEC was taking Chinese business delegations to various countries. He said so far WBCEC has taken Chinese delegations to 29 countries and signed contracts and MoUs of more than US$ 50 billion. He said Chinese investors considered Pakistan a potential country for business and have come here to explore opportunities for JVs and investment. He said both countries have good potential to cooperate in pharmaceuticals, transport, industrial parks and many other areas. He hoped that their visit would contribute to further strengthen cooperation between Pakistan and China. He stressed that ICCI should also take its delegation to China to explore new areas of mutual cooperation.

In his welcome address, Khalid Iqbal Malik, President, Islamabad Chamber of Commerce and Industry welcomed the delegation and said that CPEC project has created a good platform to put private sectors of both countries on a long-term partnership. He said that Pakistani entrepreneurs were keen to enter into joint ventures with Chinese counterparts in this historic project. He said China was importing raw material and goods worth billions of dollars every year to meet needs of its domestic industry and urged that China should focus on imports from Pakistan that would also improve our trade balance with it.

He briefed the Chinese delegation about investment potential in various sectors of Pakistan’s economy including power generation, infrastructure development, real estate & construction, medical science and many other areas. He stressed that Chinese investors should bring technology and set up joint ventures with Pakistani counterparts in areas of interest. He assured that ICCI would provide all possible cooperation to Chinese investors in such efforts. Khalid Malik Senior Vice President ICCI and others also spoke at the occasion. At the end, both sides held B2B meetings. Both sides held B2B meetings

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