ISLAMABAD, Sept 2: Chinese Ambassador to Pakistan Luo Zhaohui called on Salman Farouqui, deputy chairman Planning Commission on Tuesday and discussed a wide- range of economic and development issues.

Farouqui apprised the ambassador of the government’s plan to come up with an integrated macro-stability package in the near future. For this purpose, the government needs assistance in the next six months to bring about macro-stability, he added.

To achieve this objective the Chinese private contractors could be of great help by investing and executing the public sector development projects announced in the fiscal year 2008-09 and beyond.

The ambassador assured the official that he would encourage the Chinese investors to come to Pakistan and invest in various projects.

He was informed that Pakistan had already shown some signs of economic recovery by recording 20 per cent growth in revenue collection and 15 per cent rise in remittances. Moreover, the increase in duty on the import of luxury goods will further help stabilise the economy. Presently, the most important for Pakistan is energy sector, Mr Farouqui said. The ambassador was informed about the investment conference on energy recently held in Washington.

Mr. Farouqui also discussed the plan for the next proposed investment conference to be held in Hong Kong in October this year.

In view of exceptionally good relationships with China, he invited the Chinese private sector to participate in the conference. He hoped to get the Asian Development Bank and Bank of China to sponsor the conference in Hong Kong. The Thar coal project also came under discussion and the ambassador assured to consider bringing some other Chinese company for the completion of this project.

Mr Farouqui assured the Chinese side to remove all impediments in the way of execution of projects by the Chinese investors.

Deputy chairman Planning Commission expressed the desire to interact and work out an integrated relationship with his Chinese counterpart through joint seminars, mutual visits, and exchange of documents to the benefit of both the countries.

He briefed the ambassador on the reorganisation of the commission so that it can focus on strategic issues in the field of development.

The basic purpose behind the reforms is to develop a corporate working environment in the commission to serve as a think-tank with a strategic focus and global perspective at conceptual and operational levels.—APP