Chinese delegation visits PBIT

Expresses interest in agriculture, energy sectors.

LAHORE: Cao Wen Jian, Managing Director of the Pak-China Investment Company Limited (PCICL), along with Head of China Advisory Liu Haining and Head of Corporate Finance Tariq Mahmood, has met with the vice chairman of the Punjab Board of Investment and Trade (PBIT) Dr Miftah Ismal, PBIT CEO Sajid Yoosufani and others to discuss investment prospects in Punjab.

“It would be profitable for Chinese companies to set up their plants in Punjab to produce food items made out of wheat, rice and maize etc,” observed Jiang during the meeting. The emphasis during the meeting was on opportunities in the power and agricultural sector in Punjab. The PCICL MD also talked about possible Chinese investments in alternate power generation.

On the occasion, Dr Ismail also invited Chinese interest in the dairy and mining sectors. Referring to the provincial government’s plans to procure 125,000 laptops annually on an ongoing basis as part of its education plans, the PBIT vice chairman also asked for Chinese IT companies to consider setting up production plants in the province to cater to demand.

PCICL is a Development Financial Institution formed under initiatives taken by the Government of Pakistan and the Peoples Republic of China. PCICL is sponsored by the Ministry of Finance, which represents the Government of Pakistan, and the China Development Bank, which represents China.

A separate delegation of the China International Engineering Company also visited PBIT offices to discuss issues of mutual interest. The team discussed investment opportunities relating to projects in hydro and solar energy, dry coal gasification, coal water slurry and coal mining.

Published in The Express Tribune, June 14^th, 2012.