PM attends Pakistan-China Business Forum event

Shenzhen: Prime Minister Shehbaz Sharif is in China on a five-day visit, where the Pakistan-China Business Forum is being held in Shenzhen.

Finance Minister Muhammad Aurangzeb said at the event that inflation is a big problem in Pakistan, however, its rate is falling.

The finance minister stated that the economic indicators in Pakistan are going in the right direction. The current account deficit will be less than one billion dollars this year.

Mohammad Aurangzeb added that the inflation rate has decreased from 38 to 11 percent. The prices of food and beverages are also declining rapidly, we have to look at the issue of interest rate this year.

He further said that Pakistan's currency has stabilized in a few months, focusing on the economic reform agenda of the government.

Earlier, the Ambassador of Pakistan to China, Khalil Hashmi, while addressing the Pakistan-China Business Conference, said that Shenzhen is an example of speed development.

He stated that the business forum will be a milestone for cooperation and partnership in various fields.

Deputy Prime Minister and Foreign Minister Ishaq Dar said that Pakistan has immense opportunities in various sectors including IT, mineral resources. SIFC is taking steps to encourage investors.

Earlier, Zhu Zhaojiang, founder and chairman of Chinese company Transian Holdings, met Prime Minister Shehbaz Sharif and expressed interest in investing in its mobile manufacturing unit in Pakistan.