NORINCO – BOL News Staging

BEIJING: Prime Minister Shehbaz Sharif said that the reform measures taken by his government had started yielding results in form of successfully tapered food inflation, reduced current account deficit, and public debt down to a more sustainable level.

The prime minister, talking to Chairman of China Export-Import Bank (EXIM) Dr. Wu Fulin here, highlighted his government’s reform agenda focused on governance, taxation, and ease of doing business to attract Foreign Direct Investment (FDI).

He appreciated the EXIM Bank’s continued support for the modernization of industries, agriculture and IT sectors of Pakistan.

He also discussed the possible role of the China EXIM Bank in financing Pakistan-China joint venture projects and trade financing as part of efforts to boost Pakistan’s exports to international markets.

The EXIM Bank chairman underscored the critical role of economic and financial cooperation under CPEC phase II and China EXIM Bank’s strategic partnership with Pakistan and support to advance sustainable development under the concept of ‘shared prosperity’.

Earlier, Prime Minister Shehbaz Sharif invited the China Northern Industry Corporation (NORINCO) to invest in Pakistan’s communications infrastructure project, particularly the Karachi Circular Railway.

The prime minister, talking to NORINCO Chairman here, highlighted that the government was taking measures to bring ease of doing business and had established the Special Investment Facilitation Council (SIFC) for the purpose.

He said that China and Pakistan enjoyed cordial and time-tested friendly relations which were strengthening with the passage of time. The NORINCO chairman particularly mentioned Punjab and Pakistan Speed, referring to the swift completion of development projects during Shehbaz Sharif’s stint as Punjab chief minister, and also appreciated him for ensuring projects’ quality under his supervision. The company head recalled that under Shehbaz Sharif’s supervision, the Lahore Orange Line project was completed timely.

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Chairman Joint Chiefs of Staff Committee (CJCSC) General Nadeem Raza graced the occasion of the Heavy Industries Taxila (HIT) Golden Jubilee commemoration as the chief guest.

According to a statement by Inter-Services Public Relations (ISPR), the HIT Golden Jubilee Celebration gains more significance as it takes place during the same year when Pakistan and China are celebrating their 70th Anniversary of friendship and diplomatic ties.

The ceremony was attended by the ambassador of Ukraine and Defence Attaché of the Peoples Republic of China in Pakistan along with key officials of their state companies.

ISPR said the senior officials of the Pakistan Army including Chief of the General Staff Lieutenant General Sahir Shamshad Mirza and various serving and retired military and civil officials of HIT were also present.

The dignitaries were familiarized with the historical evolution of HIT, its various indigenous defence products and technological collaborations, added ISPR.

Major General Syed Aamer Raza, Chairman HIT highlighted the achievements of HIT and its contribution to the defence industry by pursuing self-reliance for the country.

In separate video messages, Chairman NORINCO Group – Peoples Republic of China, Deputy Director-General UKROBORONPROM and Director-General UKRSPECEXPORT – Ukraine, conveyed their felicitations to HIT on accomplishing 50 years as a successful industry and expressed their desire for achieving future goals through sustained mutual collaboration.

CJCSC Nadeem Raza felicitated Heavy Industries Taxila, NORINCO and UKRSPECEXPORT (USE) in achieving hallmarks of excellence besides establishing exemplary relations of mutual cooperation in Tank Technologies during the last five decades.

He appreciated the untiring endeavours of Chairman Heavy Industries Taxila, its officers and skilled workforce, who are striving hard to make HIT a premium defence industry organization.

While highlighting the changing strategic and security environment across the globe, the Chief Guest emphasised the need for further collaborative efforts with technology partners in the field of “Research and Development” with special emphasis on indigenisation, said ISPR.

During the ceremony, CJCSC also handed over the scroll to the commanding officer of the 2nd Regiment of Army being equipped with Tank Al-Khalid 1.

A Memorandum of Understanding (MOU) was also signed earlier today between NORINCO, China and Margalla Heavy Industries Taxila to further expand commercial activities utilizing HIT’s potential, ISPR added.

Govt’s reforms measures started yielding results : PM

CJCSC Nadeem Raza Graces HIT Golden Jubilee Celebration As The Chief Guest

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