LAHORE, Jan 7: A Bangladeshi firm, Square Pharmaceuticals, is setting up its plant here at a cost of Rs100 million.

“This is going to be first ever investment in Pakistan’s industrial sector by any Bangladeshi firm,” Honorary Consul- General of Bangladesh, Qazi Humayun Farid told a news conference here on Monday.

The plant being inaugurated by June this year, will begin with the production of a range of antibiotics and market the products at prices lower than those of the existing brands by 25-30 per cent.

“This will not only benefit the consumers but also lead to an atmosphere of competition among the local pharma firms,” Farid hoped.

He said that a Bangladeshi firm has also offered Pakistan Railways regarding the export of computerized tickets. The company has already provided a similar system to the Bangladesh Railways, he added.

He said that the Bangladeshi industrialists had expressed their interest in the purchase of sick textile units in Pakistan.

He said that Pakistani auto rickshaw manufacturers could also sell the three-wheelers to Bangladesh.—APP

Our Staff Reporter adds: Pakistan will send a 45-member trade delegation to Bangladesh to participate in the Dhaka International Trade Fair starting from Jan 12.

This was stated by honorary Counsel-General of Bangladesh in Lahore Qazi Humayun Farid at a news conference here.

The delegation will be led by Export Promotion Bureau chairman Tariq Ikram. The fair is being attended by trade delegations from over 40 countries.

Farid said Pakistani businessmen would display auto parts, electronic goods, processed food products, etc. at the fair.

He said Commerce Minister Abdul Razak Dawood would lead another trade delegation comprising 15 businessmen for Dhaka on Jan 25 to meet the Bangladeshi trade officials.