During the recent visit to China, PM Shehbaz Sharif has gone a long way for the so-called economic growth by agreeing to bring some of the vital Chinese industries to Pakistan. Pakistan is looking at this agreement to bring in revolutionary changes in its economy and the Prime Minister has vowed to fast track this. Admittedly, this venture is quite crucial and so the Prime Minister himself has been keen at championing the equitable measures towards its realization.

More recently, in the last two days, the Prime Minister gave a green light to a joint venture of Chinese and Pakistani company stressing upon his government’s ardour to carry out investment in Pakistan as one of the main political priorities. Yielding to people’s needs and expectations is one of the significant values of this project. In his speech, he pointed out that this cooperation would increase the economic returns tremendously, generate employment, and increase exportation.

PM Shehbaz Sharif has green-lighted a joint venture with Chinese companies, emphasizing this as a political priority to boost economic growth and employment in Pakistan.

The Prime Minister also discouraged officials from the ministries and institutions involved in the signing of the memorandum of understanding with China to delay it as he said no to plans to delay the MOU. The desire to push for the common progress is evident from him, Affordances of the Chinese leadership’s cooperation should not be underestimated by the government machinery.

In the course of the meeting that took place today, a general plan of converting Chinese industries to Pakistan was revealed. This plan is based on cooperation between the Chinese and Pakistanis Companies for migration of China’s textile, plastic, leather, medical & surgical instruments industries to Pakistan. The Board of Investment provided the information about 78 Pakistan venture capital seeking partnership with corresponding Chinese companies.

The Prime Minister appreciated BOI’s efforts and advice and directed the concerned government departments to extend their all-out support and facilities to those Pakistani companies who are opting for such sort of partnerships.

A strategic plan involves relocating Chinese industries to Pakistan, including sectors like textiles, plastics, and medical instruments.

Also, a total of one thousand students will be trained in China in the new method of practicing modern agriculture at the government’s cost and the first set of students will be dispatched at the start of the current academic year. This programme has been envisaged with an intention to transform Pakistan’s agriculture sector through modern technologies that would increase quality of agricultural production from the existing barren land along with maximizing acres per-hectarage. Thus, it will increase the demand of Pak agriculture products globally, which will improve its sales and exports.

Despite several costly and unfavourable factors, the Prime Minister still continues to work hard and eagerly to uplift the state of nation’s economy. Proof to this commitment is the establishment of the IT park in Islamabad. The Prime Minister also said during his recent visit to the site about this project that the work of constructing this project will set a model across the region. Further, the government has laid down intentions to introduce one thousand e-employment centres all around the nation.

The construction of the IT park is expected to be completed by June next year; however, everything possible is being done to ensure the construction is completed by October this year. The IT industry presently is a sphere enriched with numerous opportunities for development and employment in the contemporary world, and the given initiative seems to benefit from these opportunities.

One thousand Pakistani students will receive training in modern agriculture in China, aiming to enhance Pakistan’s agricultural productivity and exports.

Furthermore, the Prime Minister also pointed out that sustained development of the country’s resources requires national reconciliation. He asked for large-scale negotiations between political forces and state institutions for unity and cooperation. It is crucial for such monumental projects to have this dialogue in order for them to retain relevance and meet their goals.

Indeed, all these changes have significantly shaped the nature of China-Pakistan relations and the nature and prospects of the CPEC. When it comes to cooperation between China and Pakistan the level of trust and the willingness to further strengthen their ties are viewed in a positive light and the examples include the latest accord signifying China’s readiness to transfer industries to Pakistan. This partnership is believed to boost the two countries’ trade and investment relations, thus strengthening the strong and growing economic partnership that has for long been promoted.

CPEC which is a part of the BRI has already brought a sea change in infrastructure of Pakistan. It is believed that the involvement of fresh industrial initiatives will give more pace to CPEC because now it is not only the way of transportation and energy projects but also a place of industrial and technological progress. This diversification of CPEC projects will thus bring more deficit the economic integration between China and Pakistan for the advantage of the two nations.

The establishment of an IT park in Islamabad and the introduction of e-employment centers are part of the government’s drive to modernize and expand the IT sector.

For China, it has the added advantage of controlling over-capacity and cutting down cost of production when industries are moved to Pakistan. In return, through Pakistan’s geographical position, the Chinese industries get a new market in South Asia, Middle East and Africa. Furthermore, the industrial cooperation also caters to China’s general strategy of upgrading industries and going global in manufacturing industry.

For Pakistan, the advantages are many folds; The probes also show that Chinese industries will lead to the generation of several employment opportunities, low unemployment levels, and economic development. This industrial development will also facilitate that technology transfer as well as skill development of human resource for the growth of Pakistan’s industrial skills as well proficiency. Besides, increased exports from these industries will assist in the decrease of the trade deficit and improvement of the foreign exchange reserves.

China-Pakistan Economic Corridor (CPEC) is evolving from infrastructure to include industrial and technological projects, promising deeper economic integration.

The educational exchange being sent thousands of students to China for the training in modern agriculture shows the extent of China-Pakistan cooperation. Besides increasing the production in agricultural filed this program will also help to produced trained professional that are needed for the overall development of Pakistan’s economy.

Taken more generally, these measures indicate a keen interest of both nations in expanding the cooperation in the sphere of bilateral relations, as well as the successful strategic partnership. They emphasize that cooperation is beneficial for both countries as well as the common understanding of the future’s potential. The setting up of the it parks, and the transfer of industries have been made to establish this vision to make Pakistan a developed countries list through economic revolution and technological revolution.