Shehbaz Sharif is expected to sign more than 100 Memorandums of Understanding (MoUs) worth nearly $5 billion during his visit to China from May 24 to 26, according to reliable sources. Preparations for the agreements have reportedly been finalized, with around 90% being business-to-business (B2B) deals and 10% government-to-business agreements.
According to private TV channel,” Prime Minister Shehbaz Sharif will meet the Chinese President and Premier, where discussions will also cover the tense regional situation.
During the visit, MoUs are expected to be signed in several sectors including agriculture, poultry, dairy farming, fruit and vegetable processing, animal vaccines, fisheries, cold chain systems, fertilizers, seeds, pesticides, IT, fintech, e-commerce, cloud computing, telecommunications, industrial cooperation, mobile phone and laptop batteries, electric vehicle parts, and EV charging and storage systems.
Sources said Prime Minister Shehbaz Sharif has formed a high-level committee headed by Special Assistant Haroon Akhtar Khan to monitor the progress and implementation of all MoUs on a weekly basis.
The delegation accompanying the Prime Minister will include the Minister for Energy, Minister for Petroleum, Special Assistant for Industries and Production, Minister for IT, and Minister for Food Security and Research.
According to sources, representatives from Pakistan’s private sector will also travel to China to sign B2B agreements. On May 24, the Prime Minister will attend the B2B MoU signing ceremony, while important meetings and engagements are scheduled in Beijing on May 25. Prime Minister Shehbaz Sharif is expected to return to Pakistan on May 26 after concluding the visit.
Sources further said that due to preparations for the China visit, changes have been made to the federal budget schedule. The federal budget for the next fiscal year is now likely to be presented on June 5, while preparations are underway to present the Economic Survey on June 4.
After returning from China, a meeting of the National Economic Council may be held on June 3 under the chairmanship of the Prime Minister. A bureaucrat, speaking on condition of anonymity, stated that all B2B MoUs signed with China will be followed up by Prime Minister Shehbaz Sharif from Pakistan’s side and by the Chinese President from Beijing’s side.
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