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 remains the government’s top priority and assured them of comprehensive protection.
Addressing the Pakistan-China Pharmaceutical Business-to-Business Conference, the Prime Minister hailed the signing of nine agreements worth about $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 promoting the next phase of the China-Pakistan Economic Corridor (CPEC 20).
Expressing confidence that the agreements would translate into practical projects, the prime minister said they would increase investment in pharmaceutical manufacturing, vaccines, research and development and help Pakistan emerge as a regional center for production and export of life-saving medicines.
“I believe this will ultimately result in the manufacture 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 stood by Pakistan in difficult times and had already invested more than $30 billion under the first phase of the China Pakistan Economic Corridor (CPEC), calling the new partnerships another milestone in the expansion of economic cooperation.
The Prime Minister congratulated Pakistani and Chinese entrepreneurs on 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 and said Islamabad had 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 also 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 sides in the pharmaceutical sector.
Ease of doing business
Prime Minister Shehbaz Sharif directed the relevant authorities to speed up 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 implementing the reforms and on the future course of action.
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. The reforms are introduced across different sectors in seven phases. It was informed that these measures are expected to generate estimated savings of Rs 468.7 billion. for business by reducing compliance costs associated with regulatory requirements.
The meeting was further informed that elimination of unnecessary and complex paperwork and regulations would help increase exports, attract greater foreign direct investment and create new employment opportunities.
URAN program
Prime Minister Shehbaz Sharif urged the participants of the URAAN Overseas Pakistan Summer Scholars Program to use their education, research and global experience for the country’s development and prosperity.
Here the Prime Minister met with the scholars. The participants are currently undergoing a six-week internship under the Ministry of Planning, Development and Special Initiatives to research issues facing Pakistan.
