Chinese Delegation Announced Plans for $1 Billion Medical City in Karachi Atif Ikram Sheikh, President FPCCI

Karachi: Mr. Atif Ikram Sheikh, President FPCCI, has apprised that the federation has hosted a
high-profile Chinese delegation at its Head Office in Karachi; where the visiting delegation announced
the plans to establish a mega medical city in Karachi – with an investment of $1 billion. It will be
transformational for the healthcare system of Pakistan in general and for Karachi in particular, he added.

It is pertinent to note that the announcement was made during a joint meeting of FPCCI’s Pakistan –
China Business Council and FPCCI’s Central Standing Committee on Foreign Affairs, Trade and
Investment. The meeting was co-chaired by Mr. Saquib Fayyaz Magoon, SVP FPCCI and Mr. Meng Xiao
Wei, President of China – Pakistan Research and Innovation Enterprises Alliance.

Mr. Saquib Fayyaz Magoon stressed that the proposed grand medical city will be collectively developed
by 35 Chinese business groups listed on the Chinese Stock Exchange – aiming to upgrade Pakistan’s
healthcare system to make it at par with international standards. He added that this landmark initiative
underscores the strengthening economic ties between Pakistan and China – paving the way for significant
socio-economic development in Pakistan. He acknowledged the instrumental role of Mr. Idrees Gigi,
prominent Pakistani Industrialist & exporter of Pakistan, in organizing the engagement of Chinese
investors with their Pakistani counterparts.

Mr. Meng Xiao Wei, President of China – Pakistan Research and Innovation Enterprises Alliance, said
that the project will include manufacturing facilities for medical equipment; a world-class medical
college; training programs and other healthcare-related businesses. With an investment of over $1 billion
and a timeline of three years, the initiative is expected to generate over 50,000 jobs in Pakistan. The
project will also have support of the Pakistan – China Medical Association.

Mr. Shabbir Mansha, Chairman of FPCCI’s Pakistan – China Business Council, informed that the
representatives from leading Chinese industries; including medical industry, agricultural fertilizers, solar
energy, heavy trucks and electric vehicles, were part of the visiting Chinese delegation. The Chinese
delegation expressed their willingness for further collaboration and announced extensive B2B meetings
with Pakistani companies in Karachi to explore additional investment opportunities in collaboration with
the Sindh Govt

Ms. Mahin Khan, Convener of FPCCI’s Central Standing Committee on Foreign Affairs, Trade and
Investment, elaborated that the Chinese delegation has also revealed plans for other significant
investments in Pakistan; including, cold extraction mine project; fertilizer manufacturing & distribution
facilities; high-speed train track between Karachi & Sukkur and other mega projects.