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By APD Writer Muhammad Sohail
ISLAMABAD, May 31 (APD) - Since the launch of the China-Pakistan Economic Corridor (CPEC), a flagship project of China’s Belt and Road Initiative, a number of avenues for business ventures have been opened in Pakistan which were previously remained unexplored by local and foreign investors.
In one such development, a renowned Chinese company Yutong Bus has expressed its interest in investing in inter-city and intra-city bus services in Sindh, Pakistan’s southern province with an estimated population of 56 million people.
A delegation of Yutong Bus, led by General Manager Shi Cun Tu, visited the Sindh Board of Investment (SBI) and held a meeting with its Chairperson Naheed Memon in this regard in the provincial capital and the country’s southern port city of Karachi.
The company also expressed its interest to invest in running buses on different routes from Karachi to other cities of the province and in the inter-city bus service in Karachi, Pakistan’s largest populated city with a population of over 20 million people.
The delegation told the SBI chairperson that the company is keen in setting up a bus manufacturing plant to fulfill the market requirements.
Buses made by Yutong Bus Company have already become quite famous and are successfully making their space because of their luxurious looks and comfort ability in Pakistan, a market dominated by companies from South Korea, Germany and Sweden.
Memon welcomed their offer and noted that there were many opportunities of investment in the transport sector in Sindh and the provincial government would continue to encourage public-private partnership projects.
According to official sources, Sindh province government is set to allocate Rs 3.19 billion (30.67 million US dollars) in the budget for fiscal year July2017-June2018 for the transport and mass transit system in the province.
(ASIA PACIFIC DAILY)
