PCJCCI welcomes Budget 2025-26, cites progress on CPEC

LAHORE: The Pakistan China Joint Chamber of Commerce and Industry (PCJCCI) has welcomed the launch of the Pakistan Economic Survey 2024-25 and Budget 2025-26, describing them as strong indicators of the country’s commitment to economic stability, investment promotion and regional connectivity through the China-Pakistan Economic Corridor (CPEC).

The chamber noted encouraging signs of macroeconomic stabilisation, with inflation recorded at 4.6 per cent and GDP growth at 2.7 per cent during the outgoing fiscal year -- developments expected to bolster investor confidence. Chinese enterprises are already showing renewed interest, the PCJCCI said, as CPEC’s next phase shifts focus towards job creation, industrial growth and local empowerment.

The chamber reiterated its commitment to promoting bilateral trade, facilitating business partnerships, and supporting the government’s development objectives under CPEC and the budget. “CPEC is not just an economic corridor -- it is a symbol of long-term cooperation and shared prosperity. The foundation has been laid; now it is time to build on it, together,” the statement added.

PCJCCI President Nazir Hussain underscored CPEC’s transformative role in developing infrastructure, enhancing trade and generating employment -- particularly through projects in road, port, energy and urban development.

He highlighted the completion of major infrastructure projects including the Multan-Sukkur and Hakla-DI Khan motorways, as well as the operationalisation of the New Gwadar International Airport, which are collectively improving logistics, reducing travel times and unlocking new trade routes.

Senior Vice President (r) Mansoor Saeed Sheikh specifically praised progress in Gwadar, noting that the Gwadar Port and Free Zone have attracted over $250 million in investment from China Overseas Ports Holding Company Limited (COPHCL). He cited the presence of operations in logistics, manufacturing, fisheries, and finance, supported by incentives such as a 23-year tax holiday, full foreign ownership, and one-window facilitation. “Gwadar is rapidly emerging as a strategic commercial hub for the region,” he added.

Vice President Zafar Iqbal said the budget has earmarked significant allocations under the Public Sector Development Programme (PSDP) for ongoing and new CPEC projects. These include infrastructure development in Gwadar, land acquisition and the second phase of the East Bay Expressway.

He also highlighted progress in social infrastructure, pointing to the completion of a 1.2 million-gallon-per-day desalination plant to address water scarcity in Gwadar, and advancements in digital connectivity, including the completion of a cross-border optical fibre cable.