Chinese group to invest $2b in Pak housing sector

ISLAMABAD: XCMG and HSS Group of China on Wednesday expressed their commitment to bring in investment of $2 billion in Pakistan’s housing and manufacturing sectors.

The commitment was made during a meeting between Prime Minister Imran Khan and Dr Hanson Liu, Global Sales President/General Manager of XCMG, and Syed Saman Hashmi, Chairman HSS Group, who called on the Prime Minister here at the PM Office.

XCMG is China’s No 1 leading total solution provider for global construction industry equipment and machinery. XCMG also intends to set up heavy equipment manufacturing plant/assembly line in Pakistan.

XCMG with its expertise of constructing high rise buildings and housing units wanted to partner in Prime Minister s five million housing program. The Prime Minister welcomed the HSS and XCMG’s commitment and interest in housing and manufacturing sector. He highlighted the steps taken by the government to provide maximum facilitation to the investors, reducing cost of doing business and improving ease of doing business. The Prime Minister said that providing conducive and business friendly environment to investors was top priority of the government.

He described the construction of five million housing as a flagship program of the government, which he added, would open up new opportunities for the allied industries and the youth of country. Special assistant to PM Zulfiqar Bukhari was also present in the meeting.