Pakistan seeks expertise, experience, investment not loans: PM Shehbaz

HANGZHOU, China: Prime Minister Shehbaz Sharif said Pakistan is seeking expertise, experience, and investment rather than loans and aid while addressing the Pakistan-China B2B Investment Conference in Hangzhou on Sunday.

He said that with Chinese support and cooperation, Pakistan can produce agricultural products in line with Chinese requirements in terms of quality and other standards. He said Pakistan needs seeds, machinery and best agriculture practices, expertise and investment hoping that over the next five to seven years, Pakistan would increase its agricultural exports to China by about ten billion dollars.

He emphasized the need to further enhance mutual cooperation in the fields of agriculture, information technology, artificial intelligence, and other sectors.

Shehbaz Sharif said the government has established a Special Economic Zone in the port city of Karachi, spread over six thousand acres. He said the zone will feature modern infrastructure, a seamless business environment, and a one-window operation. He also offered land to Chinese investors on a long-term lease at highly attractive terms and conditions.

“We are celebrating 75 years of Pakistan China friendship,” he said. President Xi Jinping is a visionary leader who has transformed China into a world-class economic and military power, adding that Pakistan, as a true friend, takes pride in China’s achievements.

The Prime Minister said China imports agricultural products worth one hundred billion dollars every year, while Pakistan’s share in these imports is only a small fraction.

He said billions of dollars MoUs have been signed from Shenzhen to Hangzhou and 30 percent of them have turned into agreements with billions of dollars value.

“We are providing IT training and international certification to Pakistani youth”, he said. He said Pakistan is seeking expertise, experience, and investment rather than loans and aid.