'Chinese business houses should establish their regional offices in Pak': PM Imran Khan

Prime Minister Imran Khan on Monday decided to allow Chinese firms to set up their regional offices in its debt-ridden country. The decision by the Pakistan administration comes as a major set back to the local and small businesses in the country. Khan has assured Chinese investors that his government would give the highest priority and provide every possible facilitation to Chinese investors, during a meeting with a delegation of 10 leading Chinese firms, according to reports.

The 10 Chinese firms have shown business interests in sectors including energy, agriculture, financial sector, and communication. 

"Chinese business houses should establish their regional offices in Pakistan," Khan said in the meeting.

Pakistan continues to rely on China

The decision comes at a time when the economy of Pakistan continues to cripple. The economic condition of the country has further worsened amid the ongoing Coronavirus pandemic. Imran Khan-led administration has a large amount of debt piled after taking loans from other nations and international organisations for bailing itself out and is now struggling to pay them off. Instead of focussing on steps to revive its economy and create more jobs for the locals, the Pakistan government continues to rely on its close ally China for monetary and military support.

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Pak FM visits China

Recently, Pakistan Foreign Minister Shah Mehmood Qureshi paid a visit to China to discuss the bilateral relations and issues of regional and international interests. The visit was seen as a desperate attempt by Islamabad to secure Beijing's support in a bid to prevent itself from being blacklisted in the Financial Action Task Force (FATF) plenary meet. FATF is scheduled to be held in October and the meeting will review the steps taken by Pakistan in curbing terror funding. Pakistan is currently in its grey list.

About the Chinese delegation

The Chinese delegation, which participated in the meeting, comprised representatives of Power Construction Corporation of China (Power China), China Gezhouba (Group) Pakistan, China Road and Bridge Corporation (CRBC), China Railway Group Limited, Industrial and Commercial Bank of China, China Three Gorges South Asia Investment Company Ltd, China Machinery Engineering Corporation and China Mobile Pakistan Limited. Chinese Ambassador to Pakistan Yao Jing and Haier CEO Javed Afridi was also present at the meeting, as per reports.

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Meanwhile, Minister for Communication Murad Saeed, Minister for Industries Hammad Azhar, Planning Minister Asad Umar, Commerce Adviser Abdul Razak Dawood, Finance Adviser Dr. Abdul Hafeez Sheikh, chairman of the Board of Investment Atif R. Bokhari, Chairman of the CPEC Authority retired Lt Gen Asim Saleem Bajwa also attended the meeting.

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(With inputs from ANI)