Chi­nese del­e­ga­tion in­ter­ested to in­vest in Pak­istan Bat­tery sec­tor

The Pak Banker - - NATIONAL -

Free flow and trans­fer of new tech­nol­ogy from China to Pak­istan can open new vis­tas of op­por­tu­ni­ties es­pe­cially dry bat­tery sec­tor of Pak­istan. It was stated by Mr. Shah Faisal Afridi, Pres­i­dent, Pak-China Joint Cham­ber of Com­merce and In­dus­try (PCJCCI) while ad­dress­ing a 4-mem­ber Chi­nese del­e­ga­tion headed by Mr. Tian Wen­chang GM He­bei Dongsanx­ing New En­ergy Tech­nol­ogy Com­pany .The other mem­bers were, Mr. Zhang Yong Gang Busi­ness Man­ager, Mr.Tian Jizpong and Mr. Xiao se­nior ad­vi­sor on in­vest­ment in Pak­istan.

The Del­e­ga­tion vis­ited PCJCCI upon in­vi­ta­tion of Mr. Afridi to re­view joint ven­ture op­por­tu­ni­ties in the Bat­tery in­dus­try that would fur­ther sup­ple­ment other re­lated in­dus­tries such as au­to­mo­bile, gen­er­a­tor, so­lar sys­tem and elec­tron­ics prod­ucts.

Wel­com­ing the Chi­nese del­e­ga­tion, Pres­i­dent PCJCCI, Mr. Shah Faisal Afridi told that bat­tery sec­tor in Pak­istan had great po­ten­tial. Mod­ern Tech­nol­ogy from China in this sec­tor would prove to be very help­ful to re­vive on mod­ern lines. He ob­served that ma­jor­ity of the bat­tery in­dus­try at present was a re­flec­tion of ob­so­lete tech­nol­ogy. Most of the play­ers in this sec­tor are us­ing out­dated meth­ods and means of pro­duc­tion, be­cause the lo­cal cul­ture is not con­ducive to­wards re­search and de­vel­op­ment, he added.

Mr. Tian Wen­chang head of the vis­it­ing del­e­ga­tion, while ad­dress­ing PCJCCI mem­bers said that Chi­nese en­trepreneurs were en­cour­aged to find out tremen­dous pos­si­bil­i­ties of in­vest­ment and joint ven­tures in Pak­istan in the field of Bat­tery sec­tor as well the sub-sec­tors linked with it.

He said that The Bat­tery Man­u­fac­tur­ing in­dus­try in China had grown over the last few years, driven by strong de­vel­op­ment in var­i­ous down­stream in­dus­tries, in­clud­ing elec­tronic man­u­fac­tur­ing, elec­tric power gen­er­a­tion, com­mu­ni­ca­tions and in­for­ma­tion. He cited that the in­dus­try's growth had also been fu­eled by de­vel­op­ments in China's recre­ation, en­ter­tain­ment and health­care sec­tors, which had been ex­panded due to a rapid eco­nomic growth of the coun­try.

On this oc­ca­sion a mem­ber of the del­e­ga­tion Mr. Zhang Yong Gang elab­o­rated that the in­vest­ment of Chi­nese Com­pa­nies in the bat­tery sec­tor will not only en­able China to meet in­creas­ing de­mand of the lo­cal cus­tomers in Pak­istan, but will also help Pak­istan to cap­ture a fare seg­ment of ex­port mar­ket.

Mean­while, Pres­i­dent PCJCCI Mr. Afridi, in a press state­ment, has urged the govern­ment to lessen the tax bur­den on the lo­cal in­dus­try so as to fa­cil­i­tate joint ven­tures with Chi­nese en­trepreneurs. He pointed out that the cost struc­ture of the lo­cal in­dus­try was bear­ing a bur­den of heavy taxes, due to which about 30% of the rev­enues gen­er­ated go to the govern­ment. Thus, the heavy bur­den of taxes needs to be ad­dressed pru­dently, he said and giv­ing break-up of the taxes, he ob­served that 15% Sales tax and 10% Ex­cise duty, on im­ported raw ma­te­ri­als make the in­dus­try un­com­pet­i­tive both in lo­cal and in­ter­na­tional mar­ket.

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