Pakistan eyes economic boost as PM Shehbaz set to visit China for high-level visit

ISLAMABAD (Mudassar Ali Rana) – Prime Minister Shehbaz Sharif is expected to sign more than 100 memorandums of understanding (MoUs) worth around $5 billion during his upcoming visit to China scheduled from May 24 to 26, according to reliable sources.

According to sources preparations have been completed for the agreements, with around 90% of them being business-to-business (B2B) deals and 10% government-to-business (G2B) arrangements.

During the visit, the Prime Minister is expected to meet Chinese President Xi Jinping and Premier Li Qiang, where discussions will include regional tensions and bilateral cooperation.

The agreements are likely to cover a wide range of sectors including agriculture, poultry, dairy farming, fruits and vegetable processing, animal vaccines, fisheries, cold chain logistics, fertilizers, seeds, agro-chemicals, IT, fintech, e-commerce, cloud computing, telecommunications, industrial development, mobile phones and laptop batteries, electric vehicle parts, and EV charging infrastructure.

Sources said the Prime Minister has formed a high-level committee led by Special Assistant Haroon Akhtar Khan to monitor the implementation and progress of all MoUs on a weekly basis.

Several federal ministers and officials from key sectors, including energy, petroleum, IT, food security, and industry, will accompany the Prime Minister during the visit. Private sector representatives from Pakistan will also participate in B2B meetings.

On May 24, the Prime Minister is expected to attend a signing ceremony for B2B agreements, while important meetings are scheduled in Beijing on May 25. The visit is expected to conclude on May 26.

Due to preparations for the visit, changes have been made in the budget timeline, with the federal budget likely to be presented on June 5, while the Economic Survey may be released on June 4.