March17(Agencies) –Pakistan is considering a big investment in metal refining plants, fertilizer production plants, food processing plants including dry milk production and meat processing.
“For a future investment, the country has targeted projects to invest in metal refining plants, fertilizer production plants, food processing plants,” said Federal Minister Commerce Syed Naveed Qamar, at ‘Meet and Greet session’ with the media at TDAP HQ in Karachi.
About China’s investment in CPEC, the Minister informed that Shandong [Eastern Province of China] is thinking of relocating its labour-intensive industries to Pakistan to reduce production cost.
Minister appreciated the efforts of former President Asif Ali Zardari for initiating a multi-billion dollar China Pakistan Economic Corridor (CPEC). He said the former President had played an important role in implementation of Currency Swap Arrangement (CSA). The CSA has given a positive signal to the market on the availability of liquidity of the other country’s currency on the onshore market, he maintained.
Qamar said Pakistan was not only focusing on enhancing exports to the US, EU and rest of the world, but also working constantly on GSP plus status with the EU.
Pakistan Rupee Exchange Rate