August 29, 2008

China and Pakistan JV Company launched in Lahore

Xinhua reported that Pak China Investment Company Limited, the first JV between Pakistan and China in financial sector, was launched in eastern Pakistan's Lahore city.

A launch ceremony was held at the governor house in Lahore, marking that the company founded in July 2007 become operational in Pakistan. Mr Khalid Maqbool governor of Punjab, Dr Salman Shah minister for finance and economic affairs, Mr Luo Zhaohui Chinese ambassador and other senior officials attended the ceremony.

The 50:50 JV between the two sides will perform investment banking business on commercial basis in the financial, infrastructure, services, mining, industrial manufacturing and non manufacturing sectors in Pakistan with registered capital of USD 200 million.