Published May 30, 2026 Updated about 2 hours ago By Recorder Report LAHORE: The Pak International Business Forum (PIBF) has welcomed the recently signed Memorandums of Understanding (MoUs) between Pakistan and China for cooperation and investment in multiple sectors including industry, energy, infrastructure, technology, agriculture and trade, terming the development a positive step toward strengthening bilateral economic ties. PIBF President Dr Mushtaq Mangat said that the agreements reflect growing international confidence in Pakistan’s economic potential and strategic importance. He stated that Chinese cooperation can significantly contribute to industrial growth, technology transfer, employment generation and export enhancement if the government creates an environment conducive for investors. “Pakistan and China share a long-standing strategic partnership and these new agreements can become a milestone for economic progress. However, practical steps are required to convert these understandings into real economic activity and sustainable prosperity,” he said. Dr Mushtaq Mangat emphasized that Pakistan’s business community is currently facing enormous challenges due to high electricity tariffs, expensive gas, increasing petroleum prices, high interest rates and multiple taxation-related complications. He said industries cannot compete internationally unless the cost of doing business is brought down to regionally competitive levels. PIBF Secretary General Muhammad Ejaz Tanveer said that while foreign investment agreements are encouraging, the government must simultaneously introduce structural economic reforms to restore investor confidence and strengthen domestic industry. “Reducing the prices of electricity, gas and petroleum products is essential for industrial revival. Without affordable energy and stable economic policies, industries will continue to struggle and foreign investors may hesitate to expand operations in…