Vice-Mayor Xue Qingguo of the Chinese city of Qingdao met the Governor of Sindh Imran Ismail at the Governor House.

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Karachi: The meeting discussed matters pertaining to trade, investment and others.

On the occasion, a Memorandum of Understanding (MoU) was signed between Mayor Karachi Waseem Akhtar and Vice Mayor Xue Qingguo to work on enhancing cooperation in trade, science and technology, cultural, ports, tourism and other fields.

Chinese delegation including Chairman Board of Investment Zubair Gilani, Leader of the Opposition in Sindh Assembly Firdous Shamim Naqvi, PTI Parliamentary Leader Haleem Adil Sheikh and others attended the ceremony.

Talking to media after the meeting, the Governor said that the signing of the MoU between Qingdao and Karachi was welcomed. Through this MoU, not only the city of Karachi but the entire province and country would benefit.

He said Chinese companies were turning to other countries in the region due to rising production costs in China. Pakistan was taking advantage of this opportunity to invite Chinese companies to invest in the country.

Imran Ismail said that Qingdao had a special status in China’s economy. Cooperation with the city would greatly benefit Pakistan’s economic hub Karachi.

Responding to a question, he said that the solution to Karachi’s problems was transfer of powers to the mayor.

To another question about taxes, the Governor made it clear that the present government did not impose any new tax however the government was only ensuring proper collection of already imposed taxes. Expanding the tax net was the most urgent need of the hour.

Replying to a question about economy, the Governor said that Pakistan was the emerging economy of the world. Due to the effective economic policy of the present government, Pakistan would soon become a new economic force.

Mayor Karachi Waseem Akhtar said that signing of Memorandum of Understanding would benefit the citizens from modern technology.

He said Pak-China friendship would become even more important after the agreement.

The Mayor added that China had set an example of rapid development around the world. We need to take full advantage of China’s advanced technology.

Waseem Akhtar said that the MoU would take the city to a new path of development.

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