Latest news with #NazirHussain
Business Recorder
3 hours ago
- Business
- Business Recorder
PCJCCI urges SBP to reduce interest rate to 6pc
LAHORE: As Pakistan navigates a delicate economic recovery, the Pakistan China Joint Chamber of Commerce and Industry (PCJCCI) strongly urge the State Bank of Pakistan (SBP) to reduce the benchmark interest rate from the current 11% to 6% in its upcoming Monetary Policy announcement on July 30, 2025. Nazir Hussain, President Pakistan China Joint Chamber of Commerce and Industry (PCJCCI) stated that with core economic indicators showing clear signs of stabilization including a significant drop in inflation and a subdued Consumer Price Index (CPI), PCJCCI believes the time is ripe for a more accommodative monetary stance to unlock the country's full economic potential. He added that Pakistan's macroeconomic conditions now justify a bold policy shift; Headline inflation has fallen to 4%, indicating improved price stability, CPI growth stands at just 0.3%, one of the lowest in recent years, meanwhile, the real interest rate is excessively positive, stifling borrowing, spending, and investment. Brig Mansoor Saeed Sheikh (Retd), Senior Vice President PCJCCI said that a policy rate of 11% in a 4% inflation environment reflects an overly conservative posture that is dampening industrial sentiment. This mismatch between inflation and interest rates is hurting Pakistan's ability to stimulate investment, create jobs, and foster industrial growth. He emphasized that a cut to 6% would trigger wide-ranging economic benefits, particularly for industries, SMEs, and foreign investors. Key sectors, textiles, agriculture, construction, and manufacturing are struggling under the burden of high borrowing costs. Lower rates would; revive industrial capacity utilization, currently at historical lows, enable SMEs to access credit and expand operations, restore investor confidence in the domestic business. Copyright Business Recorder, 2025
Business Recorder
5 days ago
- Business
- Business Recorder
PCJCCI to announce initiation of Chinese language courses
LAHORE: In a strategic move aimed at strengthening economic ties between Pakistan and China and enhancing job prospects for Pakistani workers, the Pakistan China Joint Chamber of Commerce and Industry (PCJCCI) is soon planning to announce the initiation of Chinese language courses specifically tailored for skilled labourers and professionals seeking employment in China or with Chinese enterprises operating within Pakistan. Nazir Hussain, President PCJCCI stated during a think tank session held at PCJCCI secretariat yesterday that Pakistani skilled workers and labourers will become far more valuable to Chinese companies if they possess Chinese language proficiency. He further added that the workers who can communicate effectively in Chinese will have a competitive edge resulting in better job placement, performance, and growth opportunities. The initiative aims to bridge the communication gap between the Pakistani workforce and Chinese supervisors, engineers, and management teams. With a growing number of Chinese companies investing in Pakistan under the China-Pakistan Economic Corridor (CPEC), the ability to speak and understand Mandarin Chinese is becoming increasingly essential. Copyright Business Recorder, 2025
Business Recorder
18-07-2025
- Business
- Business Recorder
CPEC framework: PCJCCI vows to strengthen institutional linkages
LAHORE: The Pakistan-China Joint Chamber of Commerce and Industry (PCJCCI) has reaffirmed its commitment to strengthening institutional linkages aimed at enhancing industrial cooperation and promoting bilateral economic progress under the China-Pakistan Economic Corridor (CPEC) framework. Nazir Hussain, President PCJCCI, emphasized that PCJCCI is fully aligned with the broader vision of industrial development and stands ready to act as a dynamic platform for fostering Pakistan-China collaboration. President PCJCCI said that there is a dire need to establish dedicated 'China Desks' at various public organizations across Pakistan. These desks would act as centralized facilitation points to provide Chinese investors and enterprises with streamlined access to regulatory support, project guidance, and business services. Having China Desks embedded within public institutions will significantly improve investor confidence, reduce procedural delays, and align stakeholders around shared industrial goals. Brig Mansoor Saeed Sheikh (Retd), Senior Vice President PCJCCI said that we aim to integrate private-sector strengths with enabling policy frameworks. This will not only attract greater Chinese investment but also support industrial modernization across key sectors in Pakistan. He further noted that PCJCCI will play a proactive role in facilitating access to Chinese green technologies and supporting eco-industrial transformation in the country. Zafar Iqbal, Vice President PCJCCI, highlighted the longstanding industrial partnership between Pakistan and China and said that we believe in enhancing practical linkages that lead to innovation, value addition, and long-term economic impact. Joint ventures between Pakistani and Chinese companies will be encouraged in sectors such as engineering, agro-processing, renewable energy, and electric vehicles. Innovation hubs and pilot industrial projects will also be explored. Salahuddin Hanif, Secretary General PCJCCI stated that Coordination and institutional synergy are key to driving progress. PCJCCI is working toward launching joint working groups, policy roundtables, and industrial matchmaking sessions. The PCJCCI continues to serve as a vital bridge between Pakistani industries and Chinese enterprises, with a focus on enabling investment, promoting technology transfer, and enhancing competitiveness in strategic sectors. The chamber remains committed to facilitating structured dialogue, business matchmaking, and project development that will contribute to Pakistan's sustainable industrial growth and regional economic integration. Copyright Business Recorder, 2025
Express Tribune
18-07-2025
- Business
- Express Tribune
'China desks' proposed to woo investors
Listen to article The Pakistan-China Joint Chamber of Commerce and Industry (PCJCCI) has reaffirmed its commitment to strengthening institutional linkages aimed at enhancing industrial cooperation and promoting bilateral economic progress under the China-Pakistan Economic Corridor (CPEC) framework. In a statement, PCJCCI President Nazir Hussain emphasised that the chamber was fully aligned with the broader vision of industrial development and stood ready to act as a dynamic platform for fostering Pakistan-China collaboration. He underlined the dire need to establish dedicated "China desks" at various public organisations across Pakistan. These desks will act as centralised facilitation points to provide Chinese investors and enterprises with streamlined access to regulatory support, project guidance and business services. Having China desks embedded within public institutions would significantly improve investor confidence, reduce procedural delays and align stakeholders around shared industrial goals. PCJCCI Senior Vice President Brigadier (Retd) Mansoor Saeed Sheikh said, "We aim to integrate private-sector strengths with enabling policy frameworks. This will not only attract greater Chinese investment but also support industrial modernisation across key sectors in Pakistan." He noted that PCJCCI would play a proactive role in facilitating access to Chinese green technologies and promoting eco-industrial transformation in the country. PCJCCI Vice President Zafar Iqbal highlighted the longstanding industrial partnership between Pakistan and China and said "we believe in enhancing practical linkages that lead to innovation, value addition and long-term economic impact." Joint ventures between Pakistani and Chinese companies would be encouraged in sectors such as engineering, agro-processing, renewable energy and electric vehicles. Innovation hubs and pilot industrial projects would also be explored, he stressed. Secretary General Salahuddin Hanif stated that coordination and institutional synergy were the key to driving progress. In this regard, PCJCCI is working towards launching joint working groups, policy roundtables and industrial matchmaking sessions. "The chamber continues to serve as a vital bridge between Pakistani industries and Chinese enterprises, with a focus on enabling investment, promoting technology transfer and enhancing competitiveness in strategic sectors," he said. "It remains committed to facilitating structured dialogue, business matchmaking and project development that will contribute to Pakistan's sustainable industrial growth and regional economic integration."
Business Recorder
10-07-2025
- Business
- Business Recorder
PCJCCI underscores vast potential of food-processing sector
LAHORE: The Pakistan China Joint Chamber of Commerce & Industry (PCJCCI) today underscored the vast potential of Punjab's food processing sector as a cornerstone for bilateral economic collaboration and export growth under the China–Pakistan Economic Corridor (CPEC) during a think tank session held at PCJCCI Secretariat. Nazir Hussain, President PCJCCI emphasized Punjab's unmatched agricultural capacity, inviting deeper Chinese investment and technology transfer to strengthen value-addition and foreign exchange earnings. He further added that Punjab cultivates 57% of Pakistan's total cropland over 17 million hectares which supports 80% of the nation's wheat and 95% of citrus, 82% of guava, and 66% of mangoes. Brig. Mansoor Saeed Sheikh (retd) Senior Vice President PCJCCI said that the province contributes nearly 19% to national GDP, making its economy the largest of any Pakistani region. He highlighted that Punjab's food processing industry stands on the cusp of a transformative expansion—leveraging its massive raw agricultural output, strategic location, CPEC's infrastructural momentum, and access to Chinese technology and capital. With targeted policy support and international certification standards, the sector is poised to drive job creation, rural prosperity, and export diversification. Zafar Iqbal, Vice President PCJCCI stressed that more than 2,300 Chinese firms are operating across CPEC linked sectors in Pakistan, signalling strong investor confidence. He further said that CPEC Phase II includes robust cooperation in food processing, postharvest handling, cold storage, and mechanisation. He told that a Chinese agritech group, Sichuan Litong Food Co., plans a 1,000 acre pepper pilot in Multan with local processing plants in Lahore and Multan, targeting a US$3billion annual trade in processed food by 2026. Salahuddin Hanif, Secretary General PCJCCI reaffirmed China's strong interest in food sector JVs, emphasizing technology transfer to reduce post-harvest losses and boost exports. He also highlighted opportunities in fruit pulp, frozen concentrates, potato products, vegetable canning, olive and corn oil, IQF and called for leveraging SEZs like Sheikhupura's Quaide Azam Business Park. Promoting modern technologies like IQF freezing, cold chain infrastructure, precision agrimachinery, and seed development can boost the food sector. Copyright Business Recorder, 2025
