Collaboration with Chinese tech firms need of the hour

Collaboration with Chinese companies in Hi tech Logistics sector is need of the hour for overall development and economic growth of Pakistan, particularly in the context of China-Pakistan Economic

Corridor. It was stated by Shah Faisal Afridi, President Pak- China Joint Chamber of Commerce and Industry while addressing a high profile Chinese Delegation headed by Mr. Ma Zhetian, Chairman, Shandong, Metallurgical Engineering Technology Co., Ltd. Indicating towards urgent need to develop the logistics sector of Pakistan Faisal Afridi, invited Chinese delegation to review joint venture in the logistics sector. He informed that the transport sector inefficiencies were costing economy between 4 to 5% of GDP (Rs. 500 billion) each year signifying the need for massive investment in Road, Rail, Air and Sea Ports. He also mentioned the poor ranking in infrastructure under Logistics Performance Index i.e 120, even lower than our overall ranking.

He further informed that Pakistan loses an estimated 40% of its production of fruits, vegetables and dairy products due to the lack of an adequate cold supply chain, Pakistan gets, on average, only 41% of

the international price on its food exports owing to weak cold chains in the country, also the limited capacity of ports with regard to space becomes a huge challenge due to the unstable political situations, added Afridi. Faisal Afridi observed that Chinese collaboration in the logistics sector would be helpful to overcome the difficulties to be faced in the foreign trade. He informed the Chinese delegation that government of Pakistan had included exclusive development Plans in its Vision-2025 for Logistics sector, which could better be implemented with Chinese support.

Leader of the Chinese Delegation, Mr. Ma Zhetian, during his address, expressed gratitude to Mr. Faisal Afridi and other relevant dignitaries for providing the clear picture with actual facts and figures regarding the Logistics sector. He acknowledged that Pakistan had immense potential in logistic sector which had an ample room for modern technology of China to supplement. He said that China's focus is to speed up that development period and to take developing Asian countries along towards regional prosperity goal. Later, the Delegation visited PCJCCI to seek assistance for establishing heavy equipment manufacturing concerns, to develop logistics inward/ outward linkages, construction of mega project and steel related business.