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Federal Minister for Planning, Development and Special Initiatives Asad Umar said that the PTI Government is determined to establish four economic zones in all provinces. He said that the SEZ would enable setting up of joint ventures in manufacturing which would integrate the enterprises from both sides and it is important for Pakistani manufacturing industries to become part of the global value chain by partnering with the Chinese companies.
A delegation of Rawalpindi Chamber of Commerce and Industry (RCCI) led by Mr. Saboor malik met with Mr. Asad Umar , Federal Minister for Planning, Development & Special Initiatives here at the Ministry on Thursday. The business delegation enquired about their role in SEZs and business relationship between Chinese and Pakistani investors.
While talking to a delegation Minister said that the CPEC Business forum is established to create an interface between the government and business community and take forward the industrial cooperation between Pakistan and China. He said that representation from the private sector will accelerate the pace of industrialization under the umbrella of a mega project. He said that the focus is to boost Pakistan’s industrial capacity through joint ventures in priority areas, relocation of labor-intensive export led industry, SME’s collaboration and enhancement of vocational training capacity.
In the first phase of the China Pakistan Economic Corridor (CPEC), the infrastructure and energy projects are either completed or near completion. The second phase is the agriculture and other sectors. Under the CPEC, the ML One project, which is about $ 9 billion, will begin in the current financial year. The private sector can participate in CPEC projects under a public-private partnership. Provinces have been instructed to expedite development projects.
Minister asked from the delegation of Rawalpindi chambers of commerce to come up with a 3 years roadmap for industrialisation and export sector strategy by March 2020.