Pakistan has the potential to be World’s Food Basket

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LAHORE – President of Lahore Chamber of Commerce and Industry (LCCI), Irfan Iqbal Sheikh said that Chinese technological advancement and expertise can help Pakistan to serve as a food basket to this part of the world.

“It has vast fertile land, all weathers and one of the best canal systems but unable to reap fruit from these blessings just because of lack of modern technologies”. He expressed these views while addressing a six-member high powered trade delegation from China here at the Lahore Chamber on Wednesday.

There were countless opportunities for the Chinese investors to invest in the vibrant sectors of economy which include engineering, surgical instruments, pharmaceuticals, value added textiles, leather products, poultry/meat and agriculture machinery etc. he said and asserted that it was important that there should be win-win situation for all the stakeholders.

Irfan Iqbal Sheikh said, “It is the right time to invest in Pakistan," adding that despite having skills, labour in Pakistan was cheap as compared to China, therefore, Chinese investors should avail this opportunity with joint ventures with their Pakistani counterparts.

LCCI Vice President Mian Zahid Jawaid Ahmad, Chairman China Pakistan Economic & Trade Council Shafiqur Rehman and President Chen Jianlu also spoke while Executive Committee Members Haji Asif Saher, Sheikh Sajjad Afzal, Fiaz Haiderand Khalid Usman attended this delegation.

The bilateral trade volume between Pakistan and China was above US $16 billion while China was the highest contributor to the net foreign direct investment in Pakistan. Regular exchanges of business delegations were spreading positive indicators to the whole world.

It's the time of crisis in the whole world and Pakistan has the potential to become the food basket of the world. Due to the COVID-19 situation all around the world people don’t have food in their homes and the resources are getting low and low. If we seize this opportunity right, we can gain huge benefit from it.

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