CINQO Traders Bahrain and PAMCO
PBIT Facilitates MOU between CINQO Traders Bahrain and PAMCO
On 22nd of October 2014 a MoU was signed between PAMCO and CINQO Traders Bahrain, at the office of PAMCO. Punjab Board of Investment & Trade (PBIT) facilitated the MoU by establishing contact between PAMCO and CINQO. According to the MoU, CINQO Traders would use any or all of the services of PAMCO such as: Slaughtering, Chilling/Freezing, Packing, Deboning and Dispatch for their exports as well as for their local business.
CINQO has planned to start meat import from Pakistan immediately. CINQO is in close contact with the Bahrain Government and has future plans to invest in Pakistan to establish its own setup for livestock farming and processing. Such agreements and introduction of new parties in meat export business will be triggering quality meat animal production through backward integration in Pakistan.
The Halal food market has grown quickly over the past decade; this industry is worth an estimated USD 632 billion annually. The food sector makes up over 60% of the global market for Halal products. This includes primary meat, processed goods, bakery food and confectionary, with processed goods contributing around 35% of the total.
Pakistan is geographically located close to the Middle East and South East Asia, providing access to the regional Halal market of more than 360 million consumers. Punjab being at the heart of these major communication arteries can serve as an excellent center to expand Halal business into the Middle East and South East markets.
PBIT Receives an Honorary Award for outstanding merits in developing and strengthening Bilateral Relations between Romania and Pakistan
Punjab Board of Investment and Trade received an honorary award for outstanding merits in developing and strengthening bilateral relations between Romania and Islamic Republic of Pakistan. In recognition of his contribution in ensuring that this milestone is achieved, the award was presented to Mr. Jalal Hasan Director General Investor Relations by His Excellency Mr. Emilian Ion, Ambassador of Romania and Federal Secretary Mr. Aizaz Ahmad Chaudhry, Ministry of Foreign Affairs, (MOFA).
The ceremony was organized by the esteemed embassy of Romania to celebrate 50 years of diplomatic relations between Romania and Pakistan. The event was held at Sarena Hotel, Islamabad on 15th October 2014.
Shanghai Challenge Textile Co. Ltd and Paradise Apparels and Khawaja Asem Khurshid
Joint Venture of Shanghai Challenge Textile Co. Ltd and Paradise Apparels and Khawaja Asem Khurshid
The Punjab Board of Investment & Trade has recently facilitated in bringing in a renowned vertical integrated manufacturing company (Shanghai Challenge Textile Co. Ltd) from China to enter into a Joint Venture agreement with Paradise Apparels and Khawaja Asem Khurshid ( former President Faisalabad Chamber of Commerce ) in Pakistan. The initial investment in the primary phase would be of USD 10 Million. The Pakistan JV is named as Challenge Apparels Limited and is based in Faisalabad, the textile hub of the country. Challenge Apparels has already begun its operations with the production of textile knitted and denim products for the world’s leading brands such as Nike and Adidas.
Masood Textles and Shandong Ruyi Science and Technology Group Co. Limited, China
Joint Venture MoU between Masood Textles and Shandong Ruyi Science and Technology Group Co. Limited, China.
The JV comprises of the Shandong Ruyi Science and Technology Group Co. Ltd (a Chinese limited liability company), Masood Textile Mills Ltd. (a Pakistani limited liability company), and Mr. Shahid Nazir Ahmad, the sponsor shareholder of Masood Textile Mills Limited. On behalf of PBIT, Syed Maratib Ali, Chairman and CEO, PBIT signed the MoU while Mr. Yafu Qiu, Chairman Ruyi signed on behalf of the Shandong Ruyi Science and Technology Group Co. Limited and Mr. Shahid Nazir Ahmad from Masood Textile Mills. Ltd signed on behalf of other JV Investors. As a result of the MoU signed between Masood Textiles and Shandong Ruyi facilitated by PBIT, Chief Minister Punjab Mian Shahbaz Sharif laid the foundation stone of Ruyi Masood Indutrial Park with the collaboration of the 5th biggest textile group of China at M-III Industrial Estate Faisalabad on Wednesday May 28, 2014. The establishment of a textile park at this barren land of Faisalabad will not only promote textile sector but would also strengthen national economy. Setting up of a textile park with an investment of Rs.200 billion in M-III Industrial Estate Faisalabad with the collaboration of Chinese industrialists is the starting point of the journey towards progress and prosperity. This project will generate thousands of job opportunities while exports will also increase substantially and a new era of progress and prosperity will usher in. Coal power plants of 270 megawatt are also being established at the Textile Park. This whole project will bring about a revolution in industrial sector and also motivate other industrialists. Due to industrial collaboration between China and Pakistan in this big project investment of Rs 200 billion will be made in this mega project of weaving, spinning, printing and garments and 35,000 new job opportunities will be created.
MoU between Acumen and PBIT
Faruk H. Khan, Pakistan Country Director, CEO Acumen Pakistan and Jacqudine Novo Gratz, CEO, Acumen New York visited Punjab Board of Investment & Trade (PBIT) on February 12, 2014 and signed a Memorandum of Understanding with PBIT. As per the MoU, PBIT will undertake a Public-Private Partnership with Acumen, by arranging funds for the Solar Power and Clean Drinking Water Projects for the underprivileged. It was also agreed that these projects would not be wholly funded by the Government of Pakistan. Acumen would be responsible for executing and managing these projects. There has already been progress in this connection whereby, PBIT has successfully facilitated a pilot for the Solar Project through Akhuwat.
Quaid-e-Azam Solar Power Project
Consultancy Services Provided for the Quaid-e-Azam Solar Power Project
The services provided by Punjab Board of Investment & Trade for this project included constituting the board of the project, facilitating and conducting board meetings, preparing agendas for the same and issuing manuals to ensure growth imperatives. PBIT also made the organizational structure for the power plant, aided procurement, provided legal advisory and prepared all the bidding, procurement and financial documents.
P&D and Energy Departments
Consultancy Services for the P&D and Energy Departments
The Planning & Development and energy departments of the Punjab Government approached Punjab Board of Investment & Trade, seeking assistance for the development of a capital structure for an energy/power investment company. PBIT provided them with significant assistance regarding the project.
Higher Education Department
Ongoing Consultancy Services to the Higher Education Department
Punjab Board of Investment & Trade is currently providing consultancy services to the Department of Higher Education for the creation of a knowledge park in Lahore. The consultancy services provided by PBIT include legal and strategic consultancy and transactional advisory.