CPEC: Pakistan and China take important decisions over multi billion dollars mega project

CPEC: Pakistan and China take important decisions over multi billion dollars mega project

*ISLAMABAD: *Pakistan and China have agreed to expedite the implementation of industrial cooperation under the China Pakistan Economic Corridor framework so as to ensure speedy development of special economic zones in Pakistan.

A meeting between the officials of the Board of Investment (BoI) and the National Development and Reform Commission (NDRC), China, was held on Friday at the BOI. The meeting was jointly chaired by BOI Secretary Omer Rasul and NDRC Deputy Director General Gao Jian.

BOI Secretary Omer Rasul briefed the NDRC delegation regarding the steps being taken by Pakistan side to ensure speedy implementation of industrial cooperation.

He said projects in energy and road infrastructure sectors have started commercial operations following the completion of the CPEC’s first phase, adding that in the second phase, Pakistan is ready to enhance industrial cooperation with China as envisioned.

He intimated that the groundbreaking of Rashakai Special Economic Zone (SEZ) in Khyber Pakhtunkhwa is planned for next month.

“Two more SEZs; China Special Economic Zone at Dhabeji in Sindh and Allama Iqbal Industrial City in Faisalabad would follow a similar pattern of development,” he added.

He said the government has alerted all the line ministries while sufficient funds have been allocated for the provision of utilities at the SEZs.

He underscored the need for creating a government-to-government (G2G) framework so as to give a firm push to industrial cooperation.

The delegation of NDRC appreciated Pakistan’s efforts and said that the Chinese investors are willing to invest in the development and population of SEZs under CPEC.

Gao Jian declared industrial cooperation as the real focus of CPEC that could help the country develop its industrial cluster based on its potentials.