24 Business Tycoons of China to visit Pakistan on 20th

Muhammad Haroon Agar, Chairman, Pakistan Chemicals & Dyes Merchants Association, in a press statement, stated that on his invitation, a delegation of 24-members Business Tycoons of a large Chinese industrial group is visiting Pakistan on 20th January, 2011 to explore the opportunities to setup industrial base for raw-materials in the country.

Agar articulated that owing to exorbitant and unprovoked additional charges of shipping lines for earning high profits and increased valuation advices, the import business is facing a persistent upshot rising the cost of doing business to an alarming situation. Agar said that such unwarranted increase in prices of imported items and raw-material is acting as detrimental for the businesses.

Agar informed in order to shun the abusive dominance of shipping lines/agents for claiming exorbitant charges and to attract the foreign direct investment, he has invited the group of Chinese Industrialists to explore the immense investment opportunities here in Pakistan, particularly in Karachi and Sindh.

The said delegation will visit Pakistan Chemicals & Dyes Merchants Association for B2B meetings and to acquire an insight about demand and supply of chemical business, he added. Agar said that a presentation will be given to the delegation about the investment opportunities available and Chinese investors will be invited to establish an industrial base in Pakistan for the items and raw-materials exported to Pakistan.

While establishing the industrial base of Chinese materials exported to Pakistan, the raw-material will be available on low-cost. Agar focused that Pakistan imports from China Chemicals, Dyes, Plastics, raw materials worth around 3 billion USD every year whereby a great amount of foreign exchange is exhausted in this import, therefore, motivating the Chinese investors to establish industries here in Pakistan will lead to visible enhancement in the foreign direct investment, decrease in the cost of manufacturing and saving of foreign exchange.

Agar also urged the Government to eradicate the abusive dominance and cartelization of shipping companies and discontinue the valuation-advices in respect of imports.

via ONLINE – International News Network.

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