Pakistan values China's consistent support for economic development: PM

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Pakistani Prime Minister, Raja Pervez Ashraf said Friday that Pakistan values China's consistent support for the country's socio-economic development, local media reported.

The Prime Minister was talking to President of China Investment Corporation (CIC), Mr. Gao Xiqing who called on him Friday evening, the PM office said.

The Prime Minister said "we acknowledge the long history of Pakistan-China economic cooperation". Pakistan and China are strategic partners which encompasses economy, trade, energy, defense, investment, people to people contacts, culture, education and other areas, he added.

Pervez Ashraf said that Pakistan acknowledges the China Investment Corporation's (CIC) commitment in maintaining the high professional and ethical standards in corporate governance, transparency, accountability and assured the CIC of government's support in their quest for investing in the Pakistani market.

He highlighted that Pakistan has an investor friendly policy like equal treatment for local and foreign investors and all sectors of economy open for foreign direct investment. He invited Chinese investors for investment in power sector saying that Pakistan is blessed with abundant and vast untapped resources in renewable energy which are economically exploitable with prospects of investment opportunities.

Mr. Gao Xiqing said that they have interacted with public and private sectors in Pakistan during the last three days and have been impressed by the potential that Pakistan offers to investors.

He informed the Prime Minister that he held meetings where presentations were given to the Bank on financial, technical, social and industrial projects as well as investment policies currently in vogue in Pakistan.

The President of CIC said that they would very carefully analyze the information that they have gathered during the present visit so that any investment made by the corporation are mutually beneficial.

He expressed gratitude to the people and government of Pakistan, the private sector and government functionaries for being open to them and sharing avenues with them where the corporation could have interest. Endit

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