ISLAMABAD:
Prime Minister Shehbaz Sharif, while reaffirming Pakistan’s commitment to Chinese investors, said on Friday that the safety of Chinese nationals working in Pakistan remained the highest priority of the government and assured them complete protection.
Addressing the China-Pakistan Pharmaceutical Business Conference, the Prime Minister welcomed the signing of nine agreements worth around $440 million between Pakistani and Chinese private companies in the pharmaceutical sector, describing the development as a major step towards strengthening bilateral economic cooperation and advancing the next phase of the China-Pakistan Economic Corridor (CPEC 2.0).
The prime minister expressed confidence that the agreements would turn into practical projects, saying they would boost investments in pharmaceutical manufacturing, vaccines, research and development, and help Pakistan become a regional hub for the production and export of life-saving medicines.
“I believe this will ultimately result in the manufacturing of life-saving medicines, vaccines, research and development and becoming a center of excellence for exporting our wonderful products to neighboring countries,” he said.
He said China has always supported Pakistan in difficult times and has already invested over $30 billion in the first phase of the China-Pakistan Economic Corridor (CPEC), terming the new partnerships as another step in expanding economic cooperation.
The Prime Minister congratulated Pakistani and Chinese entrepreneurs for the agreements and praised the efforts of Health Minister Syed Mustafa Kamal, Special Assistant to Prime Minister Haroon Akhtar Khan, Pakistan Ambassador to China Khalil Hashmi, Chinese Ambassador Jiang Zaidong, government institutions and business leaders for making the conference a success.
The Prime Minister also highlighted Pakistan’s role in promoting regional peace, saying Islamabad played an important mediating role during the recent regional crisis with the support of friendly countries, especially China.
He appreciated the contributions of President Xi Jinping, Premier Li Qiang and other Chinese leaders, while recognizing the efforts of Field Marshal Syed Asim Munir and Deputy Prime Minister Ishaq Dar in diplomatic engagements.
Earlier, Prime Minister Shehbaz Sharif witnessed sighs of deals worth $440 million between the two parties in the pharmaceutical sector.
Ease of doing business
Prime Minister Shehbaz Sharif has directed relevant authorities to expedite the implementation of the government’s policy initiatives and the Business Facilitation Act, 2025.
Chairing a review meeting on the ease of doing business, the Prime Minister called for third-party validation by international organizations to assess the effectiveness and implementation of business facilitation measures.
The meeting was briefed on the progress made in implementing the reforms and the way forward.
Participants were informed that work had been completed on 558 reforms aimed at reducing regulatory requirements, paperwork and approval procedures for businesses. Of these, 71 policy measures have already been implemented, while the implementation of 272 measures is progressing rapidly. Reforms are being introduced in various sectors in seven phases. It was stated that these measures are expected to generate an estimated savings of Rs 468.7 billion for the business community by reducing compliance costs associated with regulatory requirements.
The meeting was further informed that eliminating unnecessary and complex red tape and regulations would help boost exports, attract more foreign direct investments and create new employment opportunities.
URAAN program
Prime Minister Shehbaz Sharif urged participants of the URAAN Summer Abroad Scholarship Program in Pakistan to use their education, research and global experience for the development and prosperity of the country.
The Prime Minister met the scholars here. The participants are currently completing a six-week internship with the Ministry of Planning, Development and Special Initiatives to study issues facing Pakistan.
