Consul General of China in Lahore visits Punjab Board of Investment and Trade

Lahore, November 26, 2015 (PPI-OT): The first Consul General of China in Lahore Mr. Yu Boren accompanied by Consul, Mr. Zhang Biao and Consular Attache, Zhai Yinglin called on Chairman Punjab Board of Investment and Trade (PBIT) Mr. Abdul Basit on Thursday, November 26, 2015.

Purpose of the visit was to extend appreciation for Punjab Board of Investment and Trade’s tireless efforts to facilitate Chinese businessmen and to brainstorm the way forward for establishing long term cooperation with PBIT to build a platform to facilitate the Chinese investment in Punjab.

Chairman PBIT, Mr. Abdul Basit said that China is the true and trusted friend of Pakistan who has extended invaluable cooperation in the progress and development of the country. He further said that under the present elected government, we are striving to take Pak China relations even further. The Pakistan- China Economic Corridor (CPEC) aims to transform the strong political relations into strong economic ties.

Sectors like Agriculture, Real Estate, Energy, Special Economic Zones (SEZs) and Low Cost Housing were discussed in detail. Mr. Basit informed Mr. Boren and his team about the incentives offered to the investors including the 10 year tax holiday to the SEZ’s. He also answered a number of queries of Mr. Boren pertaining to the available investment projects in Punjab. He said that 100% foreign equity is allowed in Punjab and various low cost housing projects are available where Chinese companies can invest such as Ashiana and other Public Private Partnership (PPP) projects.

Ms. Amena Cheema offered full facilitation to Chinese Consulate General to further improve the Trade and Investment ties between both the countries. Mr. Zhai Yinglin, Consular Attache said that in the past ten years number of Chinese skilled work force has increased drastically in Punjab as various energy projects of coal and solar sectors are underway.

Currently, numerous Chinese experts are employed in various energy and infrastructure projects in the province including Nandi Pur Power Project, Jinnah Barrage Hydro Power Project, Bahawalpur Solar Park, Motorways, Bhikki Project, Baloki Project and other mega coal and hydro projects.

For more information, contact:
Punjab Board of Investment and Trade (PBIT)
23-Aikman Road, GOR-I, Lahore
Tel: +92-42-99205201-06
Fax: +92-42-99205171