A task force has been formed with China: Ahsan Iqbal

Minister for Planning and Development Ahsan Iqbal briefed the media about his recent trip to China with PM Nawaz Sharif. He said that Pak-China friendship is supported by all political. He said that economic interest and regional cooperation will drive the strategic relationship between the two countries. He said that a task force has been formed with the planning department of China to explore ways and means of improving regional trade. This task force has been given a mandate for one year to develop feasibility reports and whitepapers.

He said that Pak-China trade is around 12 billion dollars while it is around 67 billion with India. He said that Chinese PM Li has an economics background while PM Nawaz Sharif hails from a business background. He said that Chinese have agreed to reduce the insurance premium on investment in Pakistan when it is backed by a sovereign guarantee. He said that Chinese Eximp bank will increase its investment in Pakistan.

Chairman Pak-China Institute Senator Mushahid Hussain Syed said that bureaucratic red tape of Pakistan can jeopardize the trade initiatives promoted by PML N government. He said that Pakistani bureaucracy is still West oriented. He said that my advice to the government will be to identify 3-4 most viable projects and then focus on delivering it. He said that a special industrial security force should be developed to protect foreigners working on projects in Pakistan.

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