LAHORE: Service Long March Tyres Group has decided to invest additional Rs 300 billion in Pakistan that will help create new job opportunities and increase its exports.

Prime Minister Muhammad Shehbaz Sharif was informed in this regard by Service Long March Tyres Chairman Jin Yongsheng during a meeting, a PM Office news release said.

The prime minister welcomed the company’s decision to expand its operations in Pakistan, saying his government’s business and investment-friendly policies were now yielding the positive results.

He maintained that the government was taking measures on priority to boost investment in the country.

A comprehensive framework was being shaped up to further facilitate the business community and the investors, he added.

Jin Yongsheng said that the new investment would help produce 1000 new jobs whereas the company’s exports from Pakistan might also reach US$100 million annually by 2025.

Lauding the government’s investment-friendly policies under the leadership of PM Shehbaz Sharif, he thanked him for taking steps to prevent smuggling in the country.

Federal Minister for Finance Muhammad Aurangzeb, and Federal Minister for Information and Broadcasting Attaullah Tarar were also present in the meeting.