- How does Pak China Investment Company selects and priorities the projects in Pakistan?
Ans. PCICL stands for Pak-China Investment Company Limited which started its operations in January 2008; it is a sponsored JV by Government of Pakistan (GoP) through Ministry of Finance & Government of China through China Development Bank (CDB). Ministry of Finance provides access to GoP institutions and immense strategic advantage on key projects and GoP led initiatives. Access to CDB is our core strength as it gives us a window of immense opportunity, market and capital.
- What support Pak-China Investment Company usually requires from Government of Pakistan(GoP)? How has been the response of Pakistan authorities and Ministry of Finance (MoF)?
Ans. Ministry of Finance provides Pak China Investment Company Limited(PCICL) the regulatory and administrative support where required. Ministry of Finance(MoF) is the hub of Pakistan’s financial outreach whereby the policy and all other economic, social and developmental projects are floated and approved. Pak-China Investment Company Limited (PCICL) through MoF has access to all governmental organizations/departments and thus can coordinate on a macro scale.
- What have been the most important ventures by Pak- China Investment Company so far?
Ans. China Development Bank (CDB) is one of the largest public financial institution of China with major focus on policy and infrastructure with an asset base of more than USD 1,600 Billion by the end of 2014. CDB plays a decisive role in the economic and social development of China by providing medium – to long term financing facilities that assist in the development of a robust economy and a healthy, prosperous community.
- What role is played by the Board of Directors in this bilateral cooperation? Do you think this role should be regulatory or consultative?
Ans. Pak China Investment Company Limited(PCICL) draws its core strength from its high powered board which is represented equally by six directors; three Chinese and three Pakistani directors. PCICL’s board chairman is sitting Secretary Finance which broadens and adds to the shades of PCICL with being in the lime light at ministerial level.
- What have been the focus of investment so far and what sectors have the potential of joint investments in future?
Ans. Pak China Investment Company Limited(PCICL) team comprises of seasoned professionals who have worked for some of the largest conglomerates and commercial organizations including state owned entities. Successfully completed transactions include a varied spectrum of sectors from energy to infrastructure, textile to sugar, ports & shipping, hydro power etc. PCICL can ensure smooth execution and quick turnaround given its resource bank, footprint and presence in business hubs of Pakistan allowing us to dedicate resources to every transaction.
- How can local businessmen and groups approach the forum for their joint ventures and access to China Market?
Ans. Pak China Investment Company Limited (PCICL) has access to the local as well as Chinese capital market, which gives it edge to access to fund any capital requirement. Though a recent entrant in the financial market, PCICL has been able to establish itself as a leading DFI having relationships with all major local commercial institutions. A dedicated China Advisory department for match making and finding appropriate companies for varied areas with the objective of “Creating Partnerships” for the promotion of trade and investments.
- What would be the future role of Pak China Investment Company in the backdrop of CPEC?
Ans. In the backdrop of CPEC, the role of PCICL has gained more importance. All along the trade route industrial zones, power houses and business opportunities are in the offering. The businessmen of both the countries should capitalize on the opportunity and utilize the facilities offered by PCICL.