Islamabad: Federal Secretary Board of Investment (BOI) Fareena Mazhar on Saturday (September 18) said that Chinese companies will spend USD 15 billion in Pakistan’s energy industry, particularly petrochemicals, news sources reported. The majority of the investment will be in Gawadar, including a plan for an energy pipeline from Gwadar to China. Bilateral talks and parlays are already taking place in this respect, she revealed.
Secretary Fareeha further stated that the government would implement a new strategy for Small and Medium Enterprises (SMEs) to encourage business development and simplify foreign direct investment (FDI) in different sectors, which will support local manufacturing and job creation. Similarly, several Chinese businesses are already in discussions to invest in energy, tourism, and agricultural development.
The secretary also discussed the government’s “7th Reform Action Plan” and the Pakistan Regulatory Modernisation Initiatives (PRMI), both of which are part of the government’s plan to enhance ease of doing business and regularise the manufacturing industry.