Govt moves to accelerate relocation of Chinese industries to Pakistan: Ahsan
Business
The minister said Pakistan would provide land to Chinese industries
(Web Desk) - Minister for Planning Ahsan Iqbal said on Wednesday Pakistan would provide land to Chinese industries as Islamabad pushes forward with initiatives to boost industrial migration from the neighbor and longtime ally, it is reported.
A seven-member panel was formed by Iqbal in September to formulate a comprehensive policy framework for relocating Chinese industries to Pakistan, aimed at enhancing industrial collaboration under the China-Pakistan Economic Corridor (CPEC).
Last year the government said it had completed more than 50 schemes worth $25 billion under CPEC, a flagship project under China’s Belt and Road Initiative, with more than $65 billion pledged for road, rail and other infrastructure developments in the South Asian nation of 241 million people.
“Iqbal has directed the officials concerned to identify suitable sites for the establishment of Model Special Economic Zones and prepare a comprehensive concept paper for the purpose,” it is reported about Iqbal’s meeting with the industrial migration panel.
“The minister said Pakistan would provide land to Chinese industries, while they would manage the infrastructure and market these zones themselves.”
The panel is led by the additional secretary of the Board of Investment and comprises members from the Commerce Ministry, the Ministry of Industries and Production, the Finance Division, the State Bank of Pakistan, the Federal Board of Revenue, and the CPEC Secretariat.
The panel’s primary focus is to identify challenges in industrial relocation, propose solutions, and develop an incentive package to attract Chinese investment and make Pakistan regionally competitive.
