• Thursday, May 19, 2022

Business

Chinese firms eye Pakistan as part of ‘Silk Road’ splurge

Pakistan’s finance minister Ishaq Dar (left) with Chinese ambassador to Pakistan Sun Weidong after signing the Pakistan Stock Exchange deal

By: Eastern Eye Staff

Chinese companies are in talks to snap up more businesses and land in Pakistan after sealing two major deals in recent months. The development is a sign of deepening ties after Beijing vowed to plough $57 billion (£46bn) into a new trade route across the south Asian nation. A dozen executives from some of Pakistan’s biggest firms said Chinese companies were looking mainly at the cement, steel, energy and textile sectors, considered the backbone of Pakistan’s $270bn (£216bn) economy. Analysts say the interest shows that Chinese firms are using Beijing’s “One Belt, One Road” project – a global trade network…

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