Industrial Cooperation between Pak-China to bring large scale investment in Pakistan

December 12, 2018 (MLN): Federal Minister for Planning, Development & Reform has said that an industrial cooperation framework will be signed in the next Joint Cooperation Committee meeting, scheduled on December 20th, 2018 at Beijing, China. He said this at a meeting chaired by him to review progress on Pak-China Industrial Cooperation on Tuesday.

According to an official press release, the framework would help to move forward with relocation of Chinese industries and large scale investment in Pakistan, he added. "

While highlighting importance of Special Economic Zones, he maintained that the industrial parks would be developed and aligned with locally available resources.

“We will promote investments that help in import substitution and value addition of the products in order to help balancing Pak China trade,” he added.

As per the document, he stressed on KP Government to develop Rashkai only for industrial purposes and discourage real estate business.

Moreover, he instructed concerned ministries to ensure provision of utilities including natural gas supply and connecting the zone with national grid to ensure power supply in line with development of this zone.

The Minister asked the KP government to make all arrangements for equal participation of local investors in Rashakai zone.

The aforementioned meeting was attended by Secretary Planning Zafar Hasan, Project Director CPEC Hassan Daud, officials from Board of Investment, Ministry of Energy and Khyber Pakhtunkhwa Government.

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