Bank of China boss meets PM, lauds Pakistan’s banking sector

October 19, 2016
Published in Pakistan

LONDON, ENGLAND - APRIL 30:  Prime Minister of Pakistan Muhammad Nawaz Sharif holds a meeting with British Prime Minister David Cameron in the White Room of Number 10 Downing Street on April 30, 2014 in London, England. During his visit to the UK, Mr Sharif is scheduled to meet with David Cameron, address an Investment Conference and meet members of the Pakistani Diaspora.  (Photo by Oli Scarff - WPA Pool /Getty Images)

ISLAMABAD: Prime Minister Muhammad Nawaz Sharif says Pak-China “all-weather” relationship is based upon shared principles and interests that form the foundation of cooperation in diverse fields.

He was talking to Chairman Board of Directors Bank of China Tian Guoli who called on him in Islamabad on Wednesday.

Highlighting China’s great support to Pakistan in security, trade and infrastructure development, the Prime Minister said that Pakistan and China have a shared future.

He said China Pakistan Economic Corridor (CPEC) is the largest comprehensive project with any foreign country. He said CPEC is a fusion of multiple development projects, aimed at the prosperity and well-being of the citizens of the country and the region at large.

The Prime Minister said that Pakistan has a vibrant banking system that has achieved high level of profitability, improved liquidity and strong solvency position. He pointed out that the banking sector grew at an impressive annual average growth rate over the last five years.

Nawaz Sharif said sound capital base, remarkable growth in assets and profitability and compliance with international standards poised Pakistan’s banking sector in a very competitive position in the region for investors.  He said besides Foreign Direct Investment, the interest of international investors in the banking sector is also evident from the portfolio investment observed in the recent divestment transactions of UBL, ABL and HBL.

Tian Guoli lauded the vision of the Prime Minister for putting the country on development path and turning around the economy.

The Chairman while appreciating the vibrant banking sector of Pakistan said that Pakistan’s financial sector offer immense opportunities to global investors. He said that CPEC has huge economic benefits for the people of Pakistan and the region.  –SAMAA/APP

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Story first published: 19th October 2016


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