Latest news with #PakistanChinaJointChamberofCommerceandIndustry
Business Recorder
2 days 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
14-05-2025
- Automotive
- Business Recorder
Daroghawala Industry Owner Association team meets PCJCCI
LAHORE: Pakistan China Joint Chamber of Commerce and Industry (PCJCCI) welcomed a distinguished delegation from the Daroghawala Industry Owner Association, led by the Bani Group at PCJCCI Secretariat Tuesday. The visit was part of an initiative to explore joint opportunities in the rapidly evolving auto parts manufacturing sector and foster meaningful dialogue on enhancing bilateral trade and technology exchange. The delegation, which included key business leaders and manufacturers from Lahore's well-established Daroghawala industrial hub, engaged in comprehensive discussions with the PCJCCI leadership aimed at identifying concrete areas for partnership, investment, and knowledge-sharing with Chinese enterprises. During the session, Mian Muhammad Mansha, Chairman of the Bani Group and a veteran of the local manufacturing industry, shared his perspective on the current challenges and future potential of the sector and said that Pakistan's auto parts industry has come a long way, but to move to the next level, we need access to cutting-edge technology, modern manufacturing practices, and global supply chains. China has been a proven leader in industrial advancement, and we believe there is tremendous value in aligning our efforts. This visit is the first step in building bridges for mutual prosperity. Zafar Iqbal, Vice President of PCJCCI, expressed his strong support for localized industrial partnerships and emphasized the Chamber's proactive role in connecting Pakistani manufacturers with relevant Chinese partners. He said that PCJCCI exists to create value—both for Pakistani businesses seeking to grow and for Chinese investors looking for reliable partners. The visit by the Bani Group and Daroghawala Association is not just a courtesy call; it reflects a growing awareness that collaboration is the only way forward. We will extend every resource available to help these companies expand their footprint regionally and internationally. Mahmood Arabi, Commercial Ambassador, PCJCCI played an active role in the discussions, assuring the visiting delegation of complete facilitation in terms of networking with Chinese chambers, industry clusters, and government agencies. He highlighted that we should work together on; technology transfer and localization of Chinese manufacturing processes, skill development and training of local technicians through Chinese expertise, opportunities for joint ventures in auto parts assembly and distribution, export potential of Pakistani auto parts to Chinese markets and Participation in upcoming trade fairs and B2B forums organized by PCJCCI. Amir Ali, Executive Committee Member PCJCCI highlighted that sporadic business dealings don't create lasting impact. What we need are structured programs that bring together people, technology, and capital across borders. That's exactly what we are trying to build through PCJCCI. Salahuddin Hanif, Secretary General PCJCCI briefed the delegation regarding PCJCCI's various initiatives, including industrial matchmaking platforms, support for Chinese language learning for business communication, and assistance in navigating cross-border legal frameworks. Both sides agreed to form a working group to follow up on specific opportunities and facilitate future visits, including a potential business delegation to China later this year. A formal Memorandum of Understanding (MoU) is also under consideration to solidify long-term cooperation between the Bani Group, Daroghawala industry stakeholders, and PCJCCI. This visit marks a key milestone in PCJCCI's ongoing mission to empower local industry by connecting it with China's massive industrial ecosystem. Copyright Business Recorder, 2025
Business Recorder
05-05-2025
- Business
- Business Recorder
PCJCCI welcomes high-profile Chinese business team's visit
LAHORE: In a significant development for Pakistan-China economic relations, the Pakistan China Joint Chamber of Commerce and Industry (PCJCCI) welcomed a high-profile Chinese business delegation comprising senior representatives from over ten influential companies and institutions. The visit aimed to explore new avenues for collaboration across critical sectors including renewable energy, advanced manufacturing, industrial technology, healthcare, aerospace, real estate development, and policy innovation. The delegation, led by David Zhu, Head of the Chinese Delegation, featured notable figures such as Musar Yang of the All-China Federation of Industry and Commerce (ACFIC), and representatives from the Chamber of Commerce for High Technology Equipment Industry, Beijing Hangxing Transmission Technology Co, Ltd, and other forward-looking enterprises. Nazir Hussain, President of PCJCCI, and Zafar Iqbal, Vice President of PCJCCI, extended a warm welcome and facilitated a full-day programme of business dialogues, sectoral briefings, and B2B networking sessions. The event served as a critical platform for building trust, exchanging ideas, and identifying mutually beneficial partnerships. Brig Mansoor Saeed Sheikh (Retd) Senior Vice President PCJCCI emphasized on the importance of technology transfer as a key pillar of bilateral cooperation. China, with its global leadership in digital infrastructure, AI, green technology, and smart manufacturing, expressed willingness to share expertise and facilitate joint ventures in Pakistan. 'We envision Pakistan not only as a strategic partner but also as a hub for industrial growth and innovation,' said David Zhu. 'Through cooperative R&D, localized production, and knowledge exchange, we can elevate the capabilities of both countries and make significant contributions to the regional economy.' Nazir Hussain added, 'Pakistan offers the perfect environment for technology localization. With China's technical depth and our strategic location, we can build industries of the future from solar technology and electric vehicles to AI-powered logistics and e-commerce.' An important highlight of the meeting was China's invitation for Pakistani businesses to showcase their products in China's extensive wholesale market network, where participation is offered free of cost. These markets, supported by government-led platforms, allow international sellers to access millions of Chinese consumers and buyers without incurring the typical trade entry barriers. 'This is an unmatched opportunity for Pakistani SMEs, exporters, and manufacturers,' noted Musar Yang. 'We want to see more Made-in-Pakistan products in Chinese markets, and we're here to make that happen.' PCJCCI leadership praised this initiative as a step toward trade democratization and committed to helping local businesses register and prepare to participate in these international wholesale trade hubs. Both parties acknowledged the need for structural reforms and policy alignment to fully unlock the potential of Pakistan-China economic cooperation. Key recommendations included: Creating sector-specific working groups for renewable energy, ICT, and health tech, Simplifying cross-border regulations and customs procedures for smoother trade, establishing a joint innovation fund to support startups and co-develop technologies, setting up a bilateral business advisory council to inform future policy directions. The delegation expressed strong interest in collaborating with PCJCCI to draft reform proposals and initiate pilot programs in selected industrial zones under the CPEC framework. Zafar Iqbal, Vice President PCJCCI said that this is not just a visit it is the beginning of a new era of bilateral cooperation, together, we can foster innovation, improve trade balance, and empower our business communities with the tools they need to thrive. Copyright Business Recorder, 2025
