XCMG group announces to invest $ 2bn in Pakistani housing sector
ISLAMABAD (92 News) – Chinese XCMG group of company on Wednesday announced to invest two billion dollars in Pakistani housing sector.
It is pertinent to mention here that XCMG is Chinese number one leading total solution provider for global construction industry equipment and machinery. It is also intended to set up heavy equipment manufacturing plants in Pakistan.
The meeting was held between Prime Minister Imran Khan with the chief executives of two Chinese companies including President of Global Sales XCMG Dr Hanson Liu and Chairman HSS Group Syed Saman Hashmi in Islamabad today.
During the meeting Prime Minister highlighted the steps taken by the Government to provide maximum facilitation to the investors, reducing cost of doing business and improving ease of doing business.
The prime minister has said that providing conducive and business friendly environment to investors is top priority of the government.
Imran Khan said construction of five million housing is a flagship program of the government which will open up new opportunities for the allied industries and youth of the country.
PM welcomes HSS, XCMG’s interest in housing sector
Prime Minister also welcomed the HSS and XCMG’s commitment and interest in housing and manufacturing sector.
Speaking on the occasion, Chief Executives of both Chinese companies expressed commitment of two billion dollars investment in Pakistan in Housing and manufacturing sectors. XCMG Company also wanted to become a partner in Prime Minister’s Housing Program.
PM approves first-ever ‘National Tariff Policy’
In another meeting, PM Imran Khan has approved, in principle, the first-ever ‘National Tariff Policy’ that aims at ensuring transparency, predictability and institutionalizing the entire structure of tariff regime of the country.
The draft policy would be presented before the Federal Cabinet for its consideration. Addressing the meeting, the Prime Minister said the policy will greatly restore confidence of the business community by providing an institutionalized structure for tariff setting.
The Prime Minister observed that the economy, especially the trade and industrial development suffered in past due to ad-hocism and unpredictability of tariff structure resulting in capture of the economy by vested interests and rampant corruption.