Investment by Chinese companies to boost Pakistan’s economy: PM

BOAO, China: Prime Minister Muhammad Nawaz Sharif on Thursday said the investment by Chinese companies will give a boost to the economy of Pakistan.

The Prime Minister expressed these views in a meeting with President, EXIM Bank of China Lui Ruogu here on the sidelines of Boao Asia Forum 2014.

During the meeting, financing of infrastructure and energy sector projects in Pakistan were discussed.

The Chinese companies plan to make an investment of about US$ 32 billion in Pakistan for the next five years.

The Prime Minister said fast-tracking the financing of these projects will enable Chinese companies to initiate projects in time.

President, EXIM Bank of China assured support to Pakistan and agreed that the financing process should be undertaken at a faster pace.

The Prime Minister said that EXIM Bank has already invested in various sectors in Pakistan and further investment would not only be mutually beneficial but would also further strengthen ties between Pakistan and China.