Jump-start of SEZs is our top priority - Khusro Bakhtyar

ISLAMABAD: A delegation headed by  China Road and Bridge Corporation (CRBC) Dong Futang, Chief Financial Officer, called on Makhdum Khusro Bakhtyar, Minister for Planning, Development & Reform (PD&R)  on Tuesday.

Speaking on this occasion, Bakhtyar appreciated the role of CRBC in the implementation of Karakorum Highway and other infrastructure projects.

He underlined that the Chinese firm would continue its efforts to ensure efficient execution of Special Economic Zone.

The China Road and Bridge Corporation, a Chinese state-owned company, has already signed a Memorandum of Understating and an engagement agreement with Khyber Pakhtunkhwa Government to jointly develop Rashakai Special Economic Zone.

While highlighting the focus of the present government, Minister PD&R said, “It is our top priority to jump-start SEZs and Rashakai will be the first one.” 

He added that the area remained ignored in the past and none of the zones were taken off.

Bakhtyar stressed on a clear timeline and business model for the development of SEZ at Rashakai as a first zone which would be followed by others.

He emphasized that the developer should focus on the relocation of Chinese heavy industry and investment from local as well as foreign enterprises to ensure value addition of the products and import substitution.

Secretary Planning Zafar Hasan also emphasized on developing a state-of-the-art infrastructure in order to facilitate relocation of Chinese companies and ensure a level playing field for local as well as foreign investors.

Dong Futang said that all out efforts and experiences would be applied to develop Rashakai SEZ at par with Chinese developed zones.

He added that locals will be preferred for employment in development and operation stages.

Pakistan’s natural resource potential would be fully utilized to make this project win-win for all.