Pakistan China aims to work on industrial cooperation

Sources confirmed that Pakistan and China are looking forward to signing a bilateral framework agreement on industrial cooperation under the China-Pakistan Economic Corridor (CPEC) regardless of Pakistan’s refusal in the privatization of Pakistan Steel Mills (PSM) to Chinese firms.

Chinese delegation has been collaborating with Pakistan authorities for a government-to-government deal on the country’s largest industrial complex which shutdown operations in June 2015.

For this purpose, Federal Minister for Finance and Revenue, Industries and Production Muhammad Hammad Azhar led a meeting on economic and industrial cooperation under CPEC to address outstanding issues. The sale of PSM to Chinese state-run firms under the G2G arrangement also came up for discussions.