ISLAMABAD:
Prime Minister Shehbaz Sharif, while reaffirming Pakistan’s commitment to Chinese investors, on Friday said that the safety of Chinese nationals working in Pakistan remains the government’s top priority and assured them of comprehensive protection.
Speaking at the Pakistan-China Pharmaceutical Business-to-Business Conference, the Prime Minister hailed the signing of nine agreements worth around $440 million between Pakistani and Chinese private companies in the pharmaceutical sector, describing the development as an important 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 become practical projects, saying they would boost investment in pharmaceutical manufacturing, vaccines, research and development, and help Pakistan emerge as a regional hub for the production and export of life-saving drugs.
“I believe this will ultimately result in the manufacturing of life-saving medicines, vaccines, research and development and become a center of excellence for exporting our wonderful products to neighboring countries,” he said.
He said China had consistently supported Pakistan during difficult times and had already invested over $30 billion in the first phase of the China-Pakistan Economic Corridor (CPEC), calling the new partnerships another milestone in expanding economic cooperation.
The prime minister congratulated Pakistani and Chinese businessmen for the agreements and praised the efforts of Health Minister Syed Mustafa Kamal, Special Assistant to Prime Minister Haroon Akhtar Khan, Pakistani 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 and said Islamabad had played an important mediating role during the recent regional crisis with the support of friendly countries, particularly China.
He appreciated the contributions of President Xi Jinping, Premier Li Qiang and other Chinese leaders, while acknowledging the efforts of Field Marshal Syed Asim Munir and Deputy Prime Minister Ishaq Dar in diplomatic engagements.
Earlier, Prime Minister Shehbaz Sharif witnessed the signing of deals worth $440 million between the two parties in the pharmaceutical sector.
Ease of doing business
Prime Minister Shehbaz Sharif directed relevant authorities to expedite the implementation of the government’s policy initiatives and the Ease of Doing Business Act, 2025.
Chairing a review meeting on ease of doing business, the prime minister directed that third-party validation by international organizations be ensured to assess the effectiveness and implementation of ease of doing business measures.
The meeting was briefed on the progress made in the implementation of the reforms and on the future course of action.
Participants were informed that 558 reforms had been completed aimed at reducing regulatory requirements, paperwork and approval procedures for companies. Of these, 71 policy measures have already been implemented, while the implementation of 272 measures is progressing rapidly. The reforms are being introduced in various sectors in seven phases. It was stated that these measures are expected to generate 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 removing unnecessary and complex regulations and procedures would help boost exports, attract greater foreign direct investment and create new employment opportunities.
URAAN Program
Prime Minister Shehbaz Sharif urged participants of the URAAN Overseas Pakistan Summer Scholarship Program to use their education, research and global experience for the development and prosperity of the country.
The Prime Minister met the academics here. The participants are currently undertaking a six-week internship at the Ministry of Planning, Development and Special Initiatives to research the issues facing Pakistan.
