ISLAMABAD, Dec 15: The government will formally launch the Pak-China Investment Company Limited (PCICL) in Karachi on Monday.

An official announcement issued here said that the Board of Investment, in collaboration the PCICL will launch the company in Karachi and Lahore on Dec 17 and 27, respectively.

The establishment of Pak-China Investment Company Limited is an initiative undertaken under the “Pak-China Five-Year Development Programme” in the financial sector cooperation.

The events will be held in the governor houses of the two provinces. The events, among others, will be attended by government of the two provinces. Minister for Finance Dr Salman Shah will be the chief guest.

The economic cooperation between the two countries will be based on the partnership between the corporate and private sectors of China and Pakistan with the governments playing a leading role.

The company will work as a window of the China Development Bank for evaluation of joint ventures between the two countries.

The investment company would perform investment banking business on commercial basis to carry out activities in financial, infrastructure, services, mining, industrial manufacturing and non-manufacturing sectors.

The formation of this investment company is very encouraging and would help enhance economic cooperation between the two neighboring countries.

PCICL will help various sectors, including financial, industrial and agricultural groups of Pakistan to seek Chinese investment.

Both the countries would succeed in increasing trade from $5-15 billion in five years.

Pak-China Investment Company, as part of the development programme with China will need to play its part to help various sectors of Pakistan to seek Chinese investment, and help Pakistani exporters to seek their niche in the Chinese market.