Postponement of Chinese president’s visit is a setback to economic development: Zakaria Usman

Karachi, September 05, 2014 (PPI-OT): Mr. Zakaria Usman President of the Federation of Pakistan Chambers of Commerce and Industry shows his serious concern on postponement of the Chinese President Xi Jinping’s visit of Pakistan. He said that it is a setback to economic development and retardation to ongoing projects in various fields. Chinese president postponed his visit due to the ongoing political crisis between the government and demonstrators.

It was expected that investment agreement of US $ 34 billion in the energy sector of Pakistan and 24 Memorandums of Understanding (MoU) to be signed during the visit of Mr. Xi Jinping. The Exim Bank of China has already provided $800 million to Pakistan as financial support for carrying out its development projects, mainly in energy and transport sectors. China is also investing heavily in the construction of Pak-China economic corridor.

He said that China is our time tested friend Chinese assistance to Pakistan especially in the Development of Sea port, Mining Projects, Power generation, Bio-technology, Fishing Sector, Corporate Farming and Science and Technology is appreciable. Pakistan and China have been enjoying amicable economic relations since long. China has provided Pakistan Technical and financial assistance for some of the major projects like Karakoram Highway, Heavy Mechanical Complex, Forge and Foundry Project, Heavy Rebuild Factory, Guddu Thermal power Station, and assistance in Agriculture.

Mr. Zakaria Usman, President FPCCI said that domestic politics should not affect our foreign relations; three heads of state, Sri Lanka, Maldives and china have cancelled their visit to Pakistan due to unrest in capital of Pakistan which gives negative image of Pakistan. Mr. Zakaria Usman strongly emphasized that economic and foreign relations should not be affected by political tussle. Planning and development should be isolated from politics. He further, emphasized that the issue of postponement of three heads visit should be discussed in national assembly session so that such economic setback may not be created in future.

For more information, contact:
M. A. Lodhi
Secretary General
Federation of Pakistan Chambers of Commerce and Industry (FPCCI)
B-1, Federation House, Main Clifton Road,
Karachi-75600, Pakistan
Tel: 0092-21-35873691, 93-94
Fax: +9221 3587 4332