Chinese Firms to Invest $15 Billion in Pakistan’s Petrochemical
According to news reports, Federal Secretary Board of Investment (BOI) Fareena Mazhar of Islamabad stated that Chinese corporations will invest USD 15 billion in Pakistan’s energy industry, mainly petrochemicals.
Including a plan for an energy pipeline from Gwadar to China, the majority of the investment will occur at Gawadar. She indicated that bilateral discussions and negotiations are already taking place in this regard.
Secretary Fareeha added that the government would execute a new policy for Small and Medium Enterprises (SMEs) to boost business development and simplify foreign direct investment (FDI) in various sectors, thereby bolstering local manufacturing and employment creation. Similarly, a number of Chinese companies are currently in negotiations to invest in the energy, tourism, and agricultural development industries.
The secretary also reviewed the “7th Reform Action Effort” and the Pakistan Regulatory Modernization Initiatives (PRMI), both of which are part of the government’s plan to increase ease of doing business and regulate the manufacturing industry.
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