Pakistan Desires Chinese Investment for Karachi Circular Railway Revival : PM
Beijing: Prime Minister Shehbaz Sharif emphasized Pakistan’s commitment to improving governance, expanding the tax net, and facilitating ease of doing business to attract foreign direct investment. In his meeting with Dr. Wu Fulin, President of China Exim Bank, in Beijing, he highlighted the positive impact of recent reforms, noting significant control over food sector inflation, a narrowed current account deficit, and a more sustainable public debt level.
The Prime Minister expressed Pakistan’s interest in learning from China’s agricultural advancements and sought investment for key infrastructure projects, including the ML-1 upgradation and the revival of the Karachi circular railway. He acknowledged the crucial support of China Exim Bank in modernizing Pakistan’s industries, agriculture, and IT sectors.
Dr. Wu Fulin reaffirmed the strategic importance of Pakistan’s projects to China Exim Bank, emphasizing their priority status. He underscored the importance of economic and financial cooperation under CPEC Phase II, highlighting the bank’s role in trade financing and promoting Pakistan’s exports. This strategic partnership aims to advance sustainable development under the concept of Shared Prosperity.
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