Target Set: Inauguration of the Inaugural CPEC SEZ in Faisalabad by Year's End - Asad Umar

Federal Minister for Planning, Development, and Special Initiatives, Asad Umar, has set forth clear directives to accelerate progress on several key fronts within the realm of CPEC (China-Pakistan Economic Corridor). In separate meetings held in Islamabad, he underscored the need for decisive action.

In a comprehensive briefing on PSDP (Public Sector Development Program) funded projects, Minister Umar lauded recent measures to streamline fund disbursement, allowing line Ministries greater autonomy in utilizing their development budgets. He urged Ministries and Departments to seize this newfound flexibility and ensure timely project completion. Emphasizing the critical role of robust monitoring and evaluation, he urged the exploration of innovative financing mechanisms for infrastructure projects.

Turning his attention to CPEC, Minister Umar received an exhaustive overview of completed, ongoing, and upcoming projects under this bilateral initiative. Expressing satisfaction with progress, he highlighted a shift towards strengthening economic cooperation, emphasizing the development of business linkages and value chains to mutual benefit.

Delving deeper into CPEC, Minister Umar expedited the scrutiny of planned Special Economic Zones (SEZs). Notably, he directed swift action on SEZs in Rashakai, Dhabeji, and Faisalabad, where groundwork had already commenced. His vision includes ensuring the groundbreaking of the first SEZ in Faisalabad before the year's end, while expediting preparations for the other two SEZs in Rashakai and Dhabeji within the current fiscal year. Ministries of Petroleum and Power pledged unwavering support, promising swift completion of vital electricity and gas supply projects to facilitate these SEZs.