Govt’s reforms measures started yielding results : PM

BEIJING: Prime Minister Shehbaz Sharif said that the reform measures taken by his government had started yielding results in form of successfully tapered food inflation, reduced current account deficit, and public debt down to a more sustainable level.

The prime minister, talking to Chairman of China Export-Import Bank (EXIM) Dr. Wu Fulin here, highlighted his government’s reform agenda focused on governance, taxation, and ease of doing business to attract Foreign Direct Investment (FDI).

He appreciated the EXIM Bank’s continued support for the modernization of industries, agriculture and IT sectors of Pakistan.

He also discussed the possible role of the China EXIM Bank in financing Pakistan-China joint venture projects and trade financing as part of efforts to boost Pakistan’s exports to international markets.

The EXIM Bank chairman underscored the critical role of economic and financial cooperation under CPEC phase II and China EXIM Bank’s strategic partnership with Pakistan and support to advance sustainable development under the concept of ‘shared prosperity’.

Earlier, Prime Minister Shehbaz Sharif invited the China Northern Industry Corporation (NORINCO) to invest in Pakistan’s communications infrastructure project, particularly the Karachi Circular Railway.

The prime minister, talking to NORINCO Chairman here, highlighted that the government was taking measures to bring ease of doing business and had established the Special Investment Facilitation Council (SIFC) for the purpose.

He said that China and Pakistan enjoyed cordial and time-tested friendly relations which were strengthening with the passage of time. The NORINCO chairman particularly mentioned Punjab and Pakistan Speed, referring to the swift completion of development projects during Shehbaz Sharif’s stint as Punjab chief minister, and also appreciated him for ensuring projects’ quality under his supervision. The company head recalled that under Shehbaz Sharif’s supervision, the Lahore Orange Line project was completed timely.

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Later, a representative of NORINCO, in a statement said that in the meeting with the prime minister, they discussed the Lahore Orange Train project which was an important component of the China-Pakistan Economic Corridor and a symbol of Pak-China friendship.