LAHORE: Pak-China Joint Chamber of Commerce (PCJCCI) President Shah Faisal Afridi said that the transfer of technology from China can open new vistas of opportunities for the battery sector in Pakistan.
Speaking to a four-member Chinese delegation at the PCJCCI, Afridi said that the battery sector has great potential and modern technology from China would be very helpful in reviving it.
The delegation, led by Hebei Dongsanxing New Energy Technology Company General Manager Tian Wenchang along with other officials, visited the PCJCCI on Afridi’s invitation to review joint venture opportunities in the battery industry that would supplement other related industries.
The PCJCCI president said, “Majority of the battery industry at present is a reflection of obsolete technology. Most of the players in this sector use out-dated methods as the local culture is not conducive towards research and development.”
In his address, Tian said that Chinese entrepreneurs were encouraged to explore opportunities for investment and joint ventures in Pakistan, in battery and related sectors.
Zhang Yong Gang, another member of the delegation, said that the investment of Chinese companies in the battery sectors will not only enable China to meet the demand of local consumers but will also help Pakistan to capture a segment of the export market.
Afridi urged the government to lessen tax burden on the local industry to facilitate ventures with the Chinese. He said, “due to heavy taxes 30% of the revenues generated go to the government.” 15% sales tax and 10% excise duty on imported raw materials make the industry uncompetitive, he added.
Published in The Express Tribune, March 19th, 2016.
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