Charting the Future: PM reviews on CPEC projects
Prime Minister Imran Khan presided over a significant meeting in Islamabad today, focusing on the China Pakistan Economic Corridor (CPEC) and setting targets for the short to mid-term phase. The discussion centered on fostering cooperation across various sectors, including industry, socio-economics, agriculture, and the development of Gwadar.
Minister for Planning, Development & Reform, Makhdum Khusro Bakhtyar, provided insights into the outcomes of the 8th CPEC Joint Cooperation Committee meeting and the progress of associated projects.
In this context, the meeting underscored the importance of this phase as a period of enhanced industrial collaboration, socio-economic growth, and agricultural development. Specific timelines for the establishment of prioritized Special Economic Zones (SEZs) were finalized, with a commitment to breaking ground in the first half of 2019.
The Prime Minister issued directives to maximize the benefits of Chinese investors' visits this year. He stressed the need to increase awareness among investors regarding Pakistan's tax policies, align SEZs with its developmental goals, and ensure a conducive environment for business operations.
Furthermore, the meeting emphasized the urgency of formulating a timeline-based policy for providing utilities to SEZs. It was agreed to promote joint ventures in sectors such as petrochemicals, iron & steel, food, and agriculture.
In a proactive move, the Prime Minister called for the establishment of a CPEC Business Advisory Council, comprising prominent Pakistani business leaders, to facilitate private sector engagement.
The Prime Minister also highlighted the continued prioritization of the Western Route in the corridor's development.
The discussion acknowledged the need for a pragmatic approach and careful financial planning for infrastructure development. Consequently, a high-level committee, consisting of the Ministers for Planning, Railway, and Finance, was constituted to finalize modalities for Pakistan Railways ML-1, a strategic CPEC project.
Additionally, the Prime Minister instructed the Pakistani side to create a roadmap for boosting the agriculture sector. Chinese companies were encouraged to explore investment opportunities in Pakistan and collaborate on agro value chains.
Lastly, the Prime Minister directed the planning of Gwadar as a smart port city, with the vision of transforming it into a transshipment and petrochemical hub.