Business in Pakistan
With Pakistan so desperate for the Chinese Yuan, could it be that Musharraf's recent consolidation of his power is in answer to Chinese demands for security and stability? Or would that be "interference in its internal affairs"?
Asia Times Online :: South Asia news, business and economy from India and Pakistan
The countries are seeking to triple bilateral trade to US$15 billion in the next five years from $4.2 billion in 2006 under a free-trade agreement signed just over 12 months ago. They recently signed agreements worth around $300 million under which Pakistani products would be exported to China, involving 15 Pakistani companies and covering goods such as cotton, chrome ore, leather and rapeseed meal.
The PCIC, established in July with paid-up capital of 4.25 billion rupees ($69 million) with the government in Islamabad a direct shareholder, will help Pakistan to secure Chinese investment in various sectors and help Pakistani exporters target openings in China, according to officials. The company will perform investment banking business on a commercial basis.
