Minister for Planning, Development, and Special Initiatives Professor Ahsan Iqbal, chairing the maiden meeting of the Cabinet Committee on Chinese Investment Projects on Tuesday, directed to conduct a research study of export processing zones successfully operating in regional countries.
The Cabinet Committee on Chinese Investment Projects, which comprises nine federal ministers, would be overseeing the progress of Chinese investment projects, expediting the pace of projects being executed under the China-Pakistan Economic Corridor (CPEC) besides ensuring the security of Chinese citizens.
Emphasized the need for effective measures to ensure the supply of cheap electricity to special economic zones, the minister directed the Board of Investment (BOI) to conduct a research- study on the export processing zones operating in Bangladesh, India, Vietnam, Cambodia, and Thailand, a news release said.
Ahsan Iqbal highlighted the importance of increasing Pakistan’s exports from $30 billion to $100 billion, noting that the country’s national security and sustainable economic development were linked to export growth. He was of the view that private companies in Pakistan earned billions of rupees annually but their balance sheets did not contribute significantly to national economic development.
He emphasized the need for a national trade, industrial, and business strategy to ensure economic growth and development.
The minister also noted that high-level exchanges and delegations between Pakistan and China provided opportunities to enhance bilateral trade and economic relations. He expressed confidence that the second phase of CPEC would be a game-changer for economic development through cooperation in trade, industry, and infrastructure.
Ahsan Iqbal stressed the need for Pakistan to determine its own interests and not rely on others’ strategies.
He also directed the Ministry of Interior to ensure the security of Chinese workers and officials at all levels, highlighting the importance of using modern technology and means to monitor and control the movement of non-state and anti-national elements, in line with the practices of developed countries.
He cautioned against creating unnecessary difficulties and hurdles for citizens in the name of security, as it could create a negative impression internationally.
Chinese companies
Federal Minister for Planning, Development and Special Initiatives Professor Ahsan Iqbal here on Tuesday chaired a meeting with representatives of various Chinese companies operating in Pakistan.
The meeting was attended by 35 companies including Pakistan Business Council, Pakistan China Investment Council, Pakistan IT Industry Association, Azad Pattan Hydropower Project, Port Qasim Coal Power Plant, and other companies working on CPEC-related projects.
The meeting was called by Sector Specialist at the CPEC Secretariat, Dr Mizamal Zia to discuss the preparation of a comprehensive agenda for CPEC Phase-2.
Ahsan Iqbal emphasized the importance of enhancing economic cooperation and increasing Pakistan’s exports to China.
He praised the role of Chinese companies in Pakistan and expressed his commitment to providing full support to Chinese investors. He emphasized that the security of Chinese citizens and projects in Pakistan was of utmost importance and assured that the government would provide foolproof security arrangements.
The minister also directed the relevant authorities to facilitate Chinese companies in obtaining necessary clearances and permits to operate in Pakistan. He suggested that Chinese companies should establish joint ventures with Pakistani companies to enhance economic cooperation.
Ahsan Iqbal emphasized that CPEC was a strategic project that has the potential to transform Pakistan’s economy. He expressed his commitment to completing the remaining projects under CPEC and ensuring the security of Chinese investments in Pakistan.
The meeting was also attended by representatives of Ministry of Commerce, Ministry of Industry, and other relevant government agencies.
