Pakistan is keenly looking for joint projects in energy sector with private sectors of China to promote technology transfer through incorporation of pioneering Chinese technology and get help in taking down cost of production in Pakistan.
Meeting was held with Chinese delegation, led by Jonathan Zhang at the Lahore Chamber. President, Lahore Chamber of Commerce and Industry (LCCI) Irfan Iqbal Sheikh along with office bearers and former president LCCI President Sohail Lashari were represent Pakistan in the meeting.
Irfan Iqbal Sheikh said that the energy takes major share in total cost of production of industrial sector in Pakistan, so there is a need of bringing down the cost of electricity production at par with regional economies like Bangladesh, India and Vietnam.
He further said “It is imperative for us to regain the competitive advantage in international market which was lost due to comparatively high cost of doing business”.
He informed that Pakistan also look forward to increasing the share of electricity generated through renewable sources.
Both the countries have a combined market of more than 1.5 billion people but the trade volume needs to be pushed up and should be balanced as well.
The Chinese importers may have better options for Pakistani goods particularly of carpets, leather and leather products, surgical equipment, sports goods, fruits and vegetables, rice, pharmaceuticals and cotton”.
LCCI Senior Vice President Ali Hussam Asghar suggested in a meeting that joint ventures can be initiated in sectors like construction, hotels and tourism; SMEs cluster development, textiles & garments, home appliances, corporate farming, seafood and food processing, banks & finance and light engineering besides energy.
He said “The two most important areas where Pakistan needs urgent assistance are energy and agriculture”.