PM assures Chinese investors of security

Hails $440m deals in pharmaceutical sector

ISLAMABAD:

Prime Minister Shehbaz Sharif, while reaffirming Pakistan's commitment to Chinese investors, on Friday said the security of Chinese nationals working in Pakistan remained the government's highest priority and assured them of comprehensive protection.

Addressing the Pakistan-China Pharmaceutical Business-to-Business Conference, the prime minister hailed the signing of nine agreements worth around $440 million between Pakistani and Chinese private enterprises in the pharmaceutical sector, describing the development as a major step towards strengthening bilateral economic cooperation and advancing the next phase of the China-Pakistan Economic Corridor (CPEC 2.0).

The prime minister expressed confidence that the agreements would turn into practical projects, saying they would boost investment in pharmaceutical manufacturing, vaccines, research and development, and help Pakistan emerge as a regional centre for the production and export of life-saving medicines.

"I think this will ultimately result into manufacturing life saving medicines, vaccines, research and development and become a center of excellence for exporting our wonderful products to neighboring countries," he said.

He said China had consistently stood by Pakistan during difficult times and had already invested more than $30 billion under first phase of China Pakistan Economic Corridor (CPEC), calling the new partnerships another milestone in expanding economic cooperation.

The prime minister congratulated Pakistani and Chinese entrepreneurs on the agreements and praised the efforts of Health Minister Syed Mustafa Kamal, Special Assistant to the Prime Minister Haroon Akhtar Khan, Pakistan's Ambassador to China Khalil Hashmi, Chinese Ambassador Jiang Zaidong, government institutions and business leaders for making the conference a success.

The prime minister also highlighted Pakistan's role in promoting regional peace, saying Islamabad had played an important mediating role during the recent regional crisis with the support of friendly countries, particularly China.

He appreciated the contributions of President Xi Jinping, Premier Li Qiang and other Chinese leaders, while also acknowledged the efforts of Field Marshal, Syed Asim Munir, and Deputy Prime Minister, Ishaq Dar in diplomatic engagements.

Earlier, PM Shehbaz Sharif witnessed the sighing of agreements worth $440 million between the two sides in the pharmaceutical sector.

 

Ease of doing business

Prime Minister Shehbaz Sharif directed the relevant authorities that the implementation of the government's policy initiatives and the Ease of Doing Business Act, 2025 be expedited.

Chairing a review meeting regarding ease of doing business, the prime minister instructed that third-party validation by international organizations be ensured to assess the effectiveness and implementation of the ease of doing business measures.

The meeting was briefed on the progress made in implementing the reforms and on the future course of action.

Participants were informed that work had been completed on 558 reforms aimed at reducing regulatory requirements, paperwork, and approval procedures for businesses. Of these, 71 policy measures have already been implemented, while implementation of 272 measures is progressing rapidly. The reforms are being introduced across various sectors in seven phases. It was stated that these measures are expected to generate estimated savings of Rs468.7 billion for the business community by reducing compliance costs associated with regulatory requirements.

The meeting was further informed that eliminating unnecessary and complex paperwork and regulations would help boost exports, attract greater foreign direct investment, and create new employment opportunities.

 

URAAN Program

 

Prime Minister Shehbaz Sharif urged participants of the URAAN Overseas Pakistan Summer Scholars Program to utilize their education, research, and global experience for the country's development and prosperity.

The prime minister met with the scholars here. The participants are currently undergoing a six-week internship under the Ministry of Planning, Development, and Special Initiatives to research issues facing Pakistan.