Pakistan pitches China, UK for investment

$20b MoUs signed with China as UK assures support for reform agenda

ISLAMABAD:

Pakistan's Ambassador to China Khalil Hashmi called on Finance Minister Muhammad Aurangzeb to discuss economic cooperation and investment promotion, according to a statement on Wednesday.

Hashmi informed the minister that Memoranda of Understanding (MoUs) valued at over $20 billion had been signed between Pakistani and Chinese entities, with many progressing into formal agreements. He highlighted growing Chinese private sector interest across manufacturing, logistics, pharmaceuticals, biotechnology, textiles and industrial services. Nine agreements have recently been concluded in the pharmaceutical and biotechnology sectors, while more than 150 Chinese companies are being engaged through the embassy's investment facilitation platform.

The meeting also discussed expanding cooperation in capital markets, sovereign financing, and opportunities with institutions such as the Asian Infrastructure Investment Bank (AIIB) and the Silk Road Fund.

Separately, Aurangzeb met British High Commissioner Jane Marriott to discuss Pakistan's macroeconomic outlook and reform agenda. The minister highlighted fiscal consolidation efforts, tax administration modernisation through technology-driven systems, and energy sector reforms.

Marriott welcomed Pakistan's progress in restoring macroeconomic stability and reiterated UK support for the reform agenda. Both sides discussed strengthening cooperation in trade, investment, financial markets and climate resilience.

The minister reaffirmed the government's commitment to strengthening economic partnerships through sustained reforms and investment facilitation. Both sides agreed to maintain close coordination to advance areas of mutual interest.