Experts lay stress on regional connectivity
Highlight need for connectivity with neighbours for sustained growth
PHOTO: FILE
LAHORE:
In line with the changing global economic paradigm, enhancing regional connectivity, especially with neighbouring countries, is the most promising option for sustained economic growth, say experts.
During a conference organised by the Pakistan-China Joint Chamber of Commerce and Industry (PCJCCI), Punjab Governor Chaudhry Muhammad Sarwar highlighted that China had emerged as the second largest economy of the world and international experts were envisaging a far bigger role for China on the global economic horizon.
He emphasised the need for regional connectivity with friendly neighbouring countries, particularly China, which had involved Pakistan in all its mega projects connecting the region by road and sea.
Importers lament problems arising from DRAP’s licence condition
A REUTERS FILE IMAGE
LAHORE:
The government should remove the regulatory hurdles being faced by importers of refurbished medical equipment, said Pakistan-China Joint Chamber of Commerce and Industry (PCJCCI) Vice President Khalid Raffique Choudhry.
He made the remarks in a meeting with the Pakistan Medical Equipment Importers and Dealers Association (PMEIDA) on Thursday.
The two sides discussed problems emerging from the Drug Regulatory Authority of Pakistan’s (Drap) new condition of a licence for the import of used hospital machinery.
PMEIDA delegation complained that Pakistan Customs had started demanding Drap licence from importers, and traders were facing high detention charges and demurrages due to that condition. It pointed out that such a document was not required before.
‘Govt must withdraw snags in healthcare imports’
Business
February 12, 2021
LAHORE: Pakistan-China Joint Chamber of Commerce and Industry (PCJCCI) on Thursday urged the government to withdraw regulatory hurdles faced by importers of refurbished medical equipment to ease the problems faced by the healthcare sector, especially in view of the Covid-19 pandemic.
The demand was made by the chamber in view of the briefing by a delegation of the Pakistan Medical Equipment Importers and Dealers Association (PMEIDA) during a meeting with PCJCCI Vice President Khalid Raffique Choudhry. PMEIDA briefed regarding the imposition of licensing condition on import of used hospital machinery by the Drug Regulatory Authority of Pakistan (DRAP), despite the presence of existing frameworks in this regard.
Chinese Investment Hurting Key Local Industries and Local Businessmen
Chinese companies are taking over major businesses in Pakistan’s export-led manufacturing sector, stated a report published by Hong Kong-based online news platform Asia Times.
The report said that while on one hand, rising Chinese investment is helping boost Pakistan’s ailing economy, on the other hand, the local businesses and groups are expressing concerns that the Chinese investors are cornering key local industries, state assets, and businesses to the detriment of Pakistani players and interests.
According to a report issued by the United Nations Conference on Trade and Development’s World Investment, foreign direct investment (FDI) in Pakistan increased from $1.7 billion in 2018 to $2.2 billion in 2019. The accumulated FDI for the year for Pakistan amounted to $34.8 billion with China being the biggest contributor.
Top Story
January 26, 2021
ISLAMABAD: China-Pakistan Economic Corridor (CPEC) Chairman Authority Lt General (R) Asim Saleem Bajwa said on Monday that no CPEC project was on hold and the work was never slowed down. He said, “Work on the eastern western and central alignments was in full swing and the second phase of the project was just beginning. He said that underdeveloped areas, especially southern parts of Balochistan, were being given importance under CPEC.
He said a dam and a desalination plant had been built in Gwadar in a bid to resolve chronic water shortages, affecting the inhabitants. An airport, with the biggest runway of Pakistan, is also being built in Gwadar, he said.