Pakistan, China have a shared future: PM Nawaz

Government of PakistanPakistan, China have a shared future: PM Nawaz

ISLAMABAD, Pakistan: Prime Minister Muhammad Nawaz Sharif on Wednesday said Pakistan and China have a shared future, with their all-weather relationship based upon shared principles and interests.

Talking to Chairman Board of Directors Bank of China Tian Guoli at PM House in Islamabad, the Prime Minister mentioned China’s great support to Pakistan in sectors of security, trade and infrastructure development.

The Prime Minister said China Pakistan Economic Corridor (CPEC) was the largest comprehensive project with any foreign country.

He mentioned that CPEC was a fusion of multiple development projects, aimed at the prosperity and well-being of citizens of the country and the region at large.

The Prime Minister said Pakistan had a vibrant banking system that had achieved high-level of profitability, improved liquidity and strong solvency position.

He said the banking sector grew at an impressive annual average growth rate over the last five years.

Nawaz Sharif said sound capital base, remarkable growth in assets and profitability and compliance with international standards poised Pakistan’s banking sector in a very competitive position in the region for investors.

Besides Foreign Direct Investment, the interest of international investors in the banking sector was also evident from the portfolio investment in the banking sector that has been observed in the recent divestment transactions of United Bank Limited (UBL), Allied Bank Limited (ABL) and Habib Bank Limited (HBL), the Prime Minister said.

He said foreign ownership in Pakistan’s banking sector had consistently and considerably increased, government of Pakistan had recently concluded $700 million financing agreement with China Development Bank which was the first such interaction with the Chinese banking industry.

Tian Guoli lauded the vision of the Prime Minister for putting the country on development path and turning around the economy.

He appreciated the vibrant banking sector of Pakistan, adding that Pakistan’s financial sector offer immense opportunities to global investors.

Guoli said CPEC had huge economic benefits for the people of Pakistan and the region.

Mati
Mati
Mati-Ullah is the Online Editor For DND. He is the real man to handle the team around the Country and get news from them and provide to you instantly.

Must read

Recent News

PTI Protest November 24

PTI Protest November 24: All roads leading to Islamabad closed down

0
Islamabad, Pakistan: Administrative panic of the government can be judged by the fact that Motorways including M1, M2, M3, M4, M-11, and M14 have...
State Bank of Pakistan releases coin to commemorative 555th birth anniversary of Baba Guru Nanak

State Bank of Pakistan releases coin to commemorative 555th birth anniversary of Baba Guru...

0
Karachi, Pakistan: The State Bank of Pakistan has released coin worth Rs 55 to commemorate the 555th birth anniversary of Baba Guru Nanak.On the...
Punjab Government created a trench at Haro River Bridge so PTI procession from Peshawar could not enter Islamabad

PTI Protest Call: Despite road blockades, PTI workers move on towards Islamabad

0
Monitoring Desk: Despite road blockades, worker arrests, and a police crackdown, followers of Tehreek-e-Insaf (PTI) are moving fast towards Islamabad for a protest on...
37 Brigadiers of Pakistan Army promoted as Major Generals

CTD Punjab claimed to kill three TTP terrorists near Rawalpindi

0
Rawalpindi, Pakistan: The Counter Terrorism Department (CTD) of Punjab killed three TTP terrorists (officially known as Khawaji) at Chakri, 30 km away from the...
Ukraine to receive 500,000 artillery shells by yearend from Czech Republic Monitoring Desk: In dire need to counter Russian aggression, Ukraine will receive 500,000 shells of various calibers by the end of this year from Czech Republic, reports Ukrinform. Referring to announcement of Czech Foreign Minister Jan Lipavský, Ukrinform reports that Czech Republic will continue to provide support to Ukraine to repel and stop Russian aggression. "As you know, my country has launched an initiative on ammunition. By the end of the year, 500,000 large-caliber shells will be delivered. We will not stop there. We will continue to provide the Armed Forces of Ukraine with the necessary support," the Czech Foreign Minister emphasized.

Ukraine to receive 500,000 artillery shells by yearend from the Czech Republic

0
Monitoring Desk: In dire need to counter Russian aggression, Ukraine will receive 500,000 shells of various calibers by the end of this year from...
Advertisement