AIIB to invest in Pakistan's infrastructure development

The visiting president-designate of the Asian Infrastructure Investment Bank (AIIB) Jin Liqun on Wednesday showed interest in financing infrastructure projects in energy, transport, sea port and urban development areas in Pakistan.

Addressing a news conference along with Pakistani Finance Minister Ishaq Dar in Islamabad, Jin said Pakistan has a great potential in the infrastructure sector, which will pave the way for sustainable economic development. The bank is looking forward for closer cooperation with the country's public and private sector, he said, adding that the bank's officials will be visiting Pakistan very soon to discuss collaboration in different projects.

"We talked about cooperation between AIIB and Pakistan, particularly with regard to infrastructure projects. We believe that your country has a great potential. We believe infrastructure investment in energy sector, transport, electric power, sea ports, urban development and water supply will all pave the way for sustainable development of your country in the decades to come," said the president-designate.



Jin said that we believe we have a great future as long as we work together. I'm sure we would be having a great institution which can serve the interest of all the 57 prospective founding members and more countries are waiting to join this bank. He said the bank will be working closely with existing multilateral development banks such as the World Bank, the Asian Development Bank and other development banks.

He also lauded Pakistani government's economic achievements “under the very tough global economic situation" and pointed out that Pakistan has played a very crucial role in the establishment of the Asian Infrastructure Investment Bank.

Dar said that Pakistan will welcome the AIIB funding for the country's infrastructure development. He also vowed full support of the AIIB.

source: business-standard image courtesy: forbes

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Manufacturers of Pakistan has huge and great export potential in international markets including Middle East, Europe and United States, but Pakistan’s industrial sector is unable to tap into them because of quality matters. Pakistan has huge potential in manufacturing industry. Pakistan has the advantage of skilled labor and less cost of production. Pakistan products have its own demand because of its cost in global markets. For instance, Pakistani apparel is the lowest cost options for US buyers. This is because the labor cost in Pakistan is less than China, India and Vietnam.


Top brands in US now started outsourcing from Pakistan manufacturers. Depreciation of Pakistan rupee makes Pakistan as an outsourcing destination. Everyone used to tell that Pakistan is a difficult and unfair place to work and to do business. In fact it’s not true; Pakistan is a serious place for work and business. Pakistan manufacturers also have the advantage of duty free exemptions for imports of some products; Pakistan ready-made textile manufacturers enjoy duty free imports of machinery and income tax exemption. It encourages them to produce and export more to other countries.

Manufacturers of Pakistan produces fashion goods and niche products better than the global competitors. In the eight months of current fiscal sugar production grew by 19% than that of last fiscal. Manufacturers of fertilizers, food, beverages and tobacco have increased their production.



In the current fiscal, the production of large scale manufacturing sector has slowed down as per the statistics released by Pakistan Bureau of Statistics. Though some improvements in economic conditions has been made by Pakistan government structural weakness are yet to be overcome. Though there are some difficulties from government manufacturers of Pakistan will face upward trend in future with the help of technological upgrades.

In Bizbilla.com you can get Pakistani manufacturers for all product categories.