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ISLAMABAD: The federal government has instructed all relevant agencies for provision of all utilities to first Special Economic Zone (SEZ) at Rashakai in order to lure Chinese companies for relocation of their units into upcoming SEZs in Pakistan.
Minister for Planning, Development and Reform Khusro Bakhtiar chaired a meeting to review progress on Pak-China Industrial Cooperation here Tuesday. The 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.
Khusro Bakhtiar said that an industrial cooperation framework will be signed during next Joint Cooperation Committee (JCC) meeting, scheduled on December 20 in Beijing, China. He said the framework would help move forward with relocation of Chinese industries and large-scale investment in Pakistan.
"The 8th JCC would be a foundation to ensure implementation of this important sector," the minister said. He, while highlighting importance of SEZs, maintained that the industrial parks would be developed and aligned with local available resources.
“We will promote such investments that help in import substitution, value addition of the products in order to help balancing Pak-China trade,” he added. The minister stressed the KP government to develop Rashakai only for industrial purposes and discourage real estate business. He reiterated that the government would provide all utilities to Rashakai economic zone. He instructed the 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. Officials from and Board of Investment, Prime Minister Office and KP government briefed the meeting about industrial cooperation and development of Rashakai Economic Zone.
