(Pakistan Observer, Islamabad) Pakistan Government will not require arrange finances for the projects to be launched by Chinese companies in the country as China ahs decided to provide funding at its own, a top official of Board of Investment said.

“This is a positive development as for as investment inflows are concerned and we will not have to think about financing Chinese companies to launch projects in Pakistan,” Chairman BoI and Minister of State for Investment, Saleem H. Mandviwala told APP in an interview here on Wednesday. Terming the visits of President, Asif Ali Zardari to China as extraordinary positive, he said that these visits have been bearing fruit as Chinese companies are taking keen interest to invest in different projects including power and energy sector in Pakistan.

He said that it is a sagacious decision by the President to visit China once in every three months, adding that these visits have been reinvigorating the Memorandum of Understandings (MoUs) signed between the two countries.

He said that China and Pakistan have signed as many as eight MoUs during President’s visit of August 21 to 25.

Highlighting them, he said that an MoU on Cooperation in the field of Drug Regulation between Drug Control Organization, was signed between Government of Pakistan and State Food and Drug Administration of People’s Republic of China. He said that MoU on Investment Promotion cooperation between Board of Investment of Pakistan and Investment Promotion Agency of the Ministry of Commerce of the People’s Republic of China was also signed during the visit.

He said that MoU between Sindh Agriculture University (SAU) Tandojam, Pakistan and South Agricultural University (SCAU) Guangzhou, China was also signed during the visit.

MoU on Cooperation on River Fisheries and Related Technologies between the Department of Fisheries, Government of Sindh, Pakistan and South China Sea Fisheries Research Institute of Chinese Academy of Fishery Sciences was also signed, he added.