ISLAMABAD: Prime Minister Shehbaz Sharif approved joint ventures between Chinese and Pakistani companies to facilitate relocation of Chinese industries to Pakistan.

Meeting discussed matters concerning Board of Investment, premier emphasised that promoting both local and foreign investment was top priority for government. He stated that efforts were underway to foster business-friendly environment for traders and investors. He instructed relevant authorities to submit detailed report on progress of memorandums of understanding signed between Pakistani and Chinese companies during his recent visit to Shenzhen, China. He called for review of draft legislation for special economic zones' one-stop shop, in light of developments following his visit to China. He highlighted potential for relocating China's textile, leather, footwear and other industries.  

During briefing, BoI secretary reported that steps were being taken to facilitate relocation of Chinese industries to Pakistan. It was mentioned that Chinese experts were being engaged to establish business facilitation centre in federal capital and draft of 'Easy Business Act' was being submitted to Cabinet Committee for Legislative Cases. Minister for Privatization and Investment Abdul Aleem Khan, Minister for Commerce Jam Kamal, Minister for Finance and Revenue Muhammad Aurangzeb, Minister for Petroleum Dr Musadik Malik and senior government officials attended.