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Most of CPEC-related road projects stand completed: Minister

Federal Minister for Communications and Postal Services Murad Saeed on Wednesday said that most of China-Pakistan Economic Corridor (CPEC) related road projects have been completed whereas work on Western Route has been started.

He stated this after a memorandum of understanding (MoU) signing ceremony between National Highway Authority (NHA) and National Bank of Pakistan (NBP) was held here at NHA Headquarters on Wednesday. The minister said that groundbreaking of Pakistan’s biggest build-operate-transfer (BOT) project Sukkur-Hyderabad Motorway would be held soon. Under the MoU, the NBP will provide 11,000 olive plants to NHA free of cost and these will be planted along Islamabad-Peshawar Motorway (M-1) and other roads.

Advisor to Prime Minister on Climate Change Malik Amin Aslam, State Minister for Climate Change Zartaj Gul, Secretary Communications Jawwad Rafique Malik, Chairman NHA Capt Sikandar Qayyum (retd) and senior officers of Ministry of Communications, National Highway Authority and National Bank of Pakistan were also present on the occasion.

The minister that as per vision of Prime Minister Imran Khan, ground is being prepared for making Pakistan an Islamic welfare state by adopting welfare schemes like Ehsas Program, Kamyab Jawan Program, Sehat Insaf Card, Shelter Homes, etc. He further said that extremely changing climate is demanding more and more plantation in the country so that a safe future could be given to the coming generation. Through reforms, National Highway Authority and Postal Services have been put on the track of development in terms of increasing revenue and savings.

He said under Clean & Green Pakistan initiative, the NHA is making the highways and motorways of Pakistan beautiful and it is responsibility of the masses to play their role in keeping them clean.

Murad said that the government is working on the plan to make NHA a self-reliant institution which would build roads without government funding. He said that in the past, rulers used to build palaces for themselves and had done nothing for the poor segment of the society. He said that it is the PTI government which launched shelter homes and Langar Khanas (soup kitchens) for the homeless and poor people. He said that Kamyab Jawan and Ehsas programs are also PTI governments’ flagship schemes which would play role in making Pakistan an Islamic welfare state.

About Sehat Insaf Card, he said that 5.7 million families have benefited from the health insurance scheme so far. Lashing out at the Sindh government he said that it is not cooperating with the federal government for inclusion of the province in Sehat Insaf Card. He said that 2020 would be the year of development, economic stability and public welfare. He said that Prime Minister Imran Khan has put the country’s economy in the right direction with difficult and bold decisions and fruits of this betterment would reach the common man.

NHA’s General Manager (M-1) Amjad Ali Khan and Vice President & Regional Head of Islamic National Bank of Pakistan Khyber Pakhtunkhwa Saima Rahim signed the MOU. Murad Saeed said during the last 16 months, revenue of National Highway Authority has been increased and savings are recorded considerably.

Malik Amin Aslam said the Prime Minister has given a clear vision for making Pakistan a welfare state. The present government is endeavouring to bring about a positive change in all spheres of life so that a bright future could be given to the youth. He said Ministry of Climate Change is fully aware of climatic changes and utilizing all available resources for ensuring plantation in the country. Wide ranging plantation is the dire need of the present time, he added.

State Minister for Climate Change Zartaj Gul said, “Changing weather conditions have posed threat to the nation and we are to face it through collective efforts. Plantation along road network is an expensive job.” She expressed gratitude to Ministry of Communications, media and civil society in achieving the plantation targets in the country. Zartaj Gul said the government is taking concrete measures to address challenges arising out of climate change in the country. She said the government is establishing green belts along motorways in collaboration with NHA.

Vice President & Regional Head of Islamic National Bank of Pakistan Khyber Pakhtunkhwa Saima Rahim also expressed her views on the occasion.

Source: Business Recorder

Date: 16/01/2020

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CPEC initiative: Zong introduces unlimited calls to China

The launch of this bundle is in-line with our strategy of connecting both private and corporate customers, says Zong spokesperson.Pakistan’s telecommunication operator, Zong 4G has introduced unlimited calls to China under its China-Pakistan Economic Corridor (CPEC) initiatives.

“The China bundles offer unlimited calls to China for both prepaid and postpaid customers with a weekly bundle worth PKR 250+tax for prepaid customers and a monthly bundle worth PKR 750+tax for both prepaid and postpaid customers,” read a statement from the telecom provider.

“Zong 4G has always strived to provide its customers with unmatched and innovative products and services. As the connectivity partner for CPEC, Zong 4G has undertaken many initiatives and the launch of this bundle is in-line with our strategy of connecting both private and corporate customers,” said Zong 4G’s Spokesperson.

The China Pakistan Economic Corridor (CPEC) is a multi-billion dollar project, under which China is building major infrastructure projects including roads, power plants, and special economic zones in Pakistan to improve connectivity between the two allied nations and the region in general.

Source: Business Recorder 

Date:16/01/2020

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Pakistan eyes E-Commerce for economic growth

Abdul Razak Dawood, advisor to Pakistani prime minister on commerce, textile, industry and production, and investment, said on Monday that the special focus of the government on e-commerce policy will benefit the country, particularly giving a quantum jump to its exports.

Addressing a workshop here on e-commerce, the advisor said that in line with the government’s vision of “Digital Pakistan”, many lacunas in the procedural framework will be fixed.

“The moment we start minimizing the interaction between people with everything working online, then corruption will go down, inefficiency will go down and we will be able to move in a much, much faster way,” he said.

Currently, Pakistan’s services sector exports are around five billion U.S. dollars, said Dawood, adding that prioritizing opportunities for the startups and small and medium-sized enterprises (SMEs) through the policy of digitization and e-commerce, service exports could be enhanced to a great extent.

According to a report about the e-commerce policy framework of Pakistan released by the country’s commerce ministry in September 2019, there are over 3.2 million SME units in Pakistan, accounting for 98 percent of all the enterprises, and the SMEs employ “nearly 78 percent of the non-agriculture labor force in Pakistan and contributes more than 30 percent” to the overall gross domestic product (GDP).

“E-commerce is an opportunity to bring SMEs in the mainstream and connect them with international markets through global e-commerce platforms as well as Pakistani online market places,” the report added.

Talking to Xinhua, Badar Khushnood, a member of the Pakistani software houses association P@SHA, said that the China-Pakistan Economic Corridor (CPEC) is providing a great opportunity to Pakistan to learn and collaborate with Chinese tech giants like Tencent and Alibaba to tap its e-commerce potential.

Khushnood is of the view that companies like Alibaba, Uber and Careem have conducted B2C business in the country, and the business can be further expanded within the B2B framework as well.

According to a report released by the website Export.gov which is managed by the U.S. Department of Commerce, it is estimated that Pakistan has around 32 million Facebook users, and one of the highest rates of smartphone penetration in South Asia at nearly 34 percent. This makes it a potential market for e-commerce services and businesses.

Jawaid Ghani, professor of strategy and marketing research at Karachi School of Business and Leadership, told Xinhua that e-commerce facilitates make transaction easier, which is essential for foreign direct investment.

To increase exports, Pakistan has to introduce new e-commerce avenues as this would increase economic activity across all levels including B2B, B2C and C2C, he said.

The Export.gov report also noted that a large component of Pakistan’s economy is informal and this is mainly because the majority of transactions are conducted in cash, except for those that are very large and require a bank draft or pay order. The majority of the local companies especially the SMEs are undocumented and therefore out of the tax net.

Ghani said that e-commerce and digital payment services would ensure transparency in transaction along with bringing the documentation of the undocumented transfer of money.

The McKinsey Global Institute report estimated that Pakistan can have an increase of a cumulative seven percentage points in its GDP along with the generation of around four million new jobs during 2016-2025 through utilizing digital financial services alone.

Source: Xinhuanet

Dated:15/01/2020

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Pakistan and future of CPEC

PAKISTAN needs to keep its focus on political stability for the success of its economy and thus CPEC. Politically, China is a stable country. For its success, Pakistan needs to follow Chinese model. The relationship between Pakistan and China underwent a strategic transformation in 2016 with the launch of the China-Pakistan Economic Corridor (CPEC), which reinforced the already strong ties between the two countries. Initial investment under the CPEC banner helped Pakistan overcome chronic electricity shortage and led to the upgradation of the country’s road networks. However, CPEC projects have also been associated with a strain on both the fiscal and current accounts, dragging down the pace of development during 2018. Although the current Pakistani government seeks a greater emphasis on industrial cooperation, we expect the original framework of the CPEC to remain largely intact with a strong focus on physical infrastructure.
With a total estimated value of around US$64bn, intended for dozens of projects spanning the energy, infrastructure and industrial sectors, the CPEC is China’s largest bilateral partnership under its Belt and Road Initiative (BRI). It was touted by the former PML (N) government as an economic lifeline which promised to deliver sorely needed foreign investment to the country. However, when the PTI formed a coalition government after the general election in July 2018, it tried to renegotiate the terms of certain projects and to reshape others. So far there have only been limited changes and the CPEC plans have largely been retained. Since coming into power, the PTI, led by Premier Imran Khan, has had to deal with harsh economic realities while deciding the future course of engagement with China.
Following a few years of moderate growth and rising aggregate demand, the economy started to slow down in 2018. After annual growth of 5.6% on average during fiscal years 2015-17 (July-June), Pakistan’s GDP grew by 5.4% in 2017-18, and expansion was expected to slow further in 2018-19. Meanwhile, the fiscal and current-account deficits ballooned to the equivalent of 5.4% and 5.8% of GDP respectively in 2018, compared with 5.2% and 3.9% of GDP respectively on average in 2016-17. The pressure on both the fiscal and current accounts over the last year and a half has been driven by a drastic increase in imports.
This is largely attributable to the highly capital-intensive nature of the CPEC projects undertaken so far, which have mainly focused on power plants and road infrastructure. This partly contributed to not only higher government spending, but also a drastic increase in imports, resulting in pressure on both the fiscal and current accounts. Consequently, a number of CPEC projects slowed down or were halted during the second half of 2018. According to the official definition of the initiative, which was mutually agreed between Pakistan and China, the CPEC is based on the so-called one plus four framework, which prioritizes Gwadar port, energy, transport infrastructure and industrial cooperation. So far, almost all of the completed and ongoing projects – with cumulative investment amounting to around US$19bn – have been in the power and transport sectors.
The power projects have been largely financed by Chinese firms and banks under the BOT (build-operate-transfer) model, while road projects have been carried out through a combination of bilateral loans from the Chinese government and fiscal outlays from Pakistan. The PTI-led government has indicated its intention to shift the focus of the CPEC more towards industrialization and socio-economic development. In particular, it wants to start activating the nine special economic zones that were originally planned under the CPEC, in the hope that Chinese industries will relocate or set up joint ventures with local parties in these zones. The Pakistani government is also keen to accelerate the development of Gwadar port, on the Arabian Sea in Balochistan province, with the aim of transforming it into a trade hub.
Notwithstanding the desire to streamline the focus of the CPEC towards deeper industrial development on the Pakistani side, the CPEC portfolio is likely to remain skewed towards the energy sector in 2019-20, with six ongoing power projects estimated to add a combined 6,910 MW of electricity to the national grid once completed. Alongside energy, transport infrastructure will continue to comprise a sizeable part of the initiative, with the largest project being the upgradation of the Karachi-Peshawar main railway line (“ML-1”), at an estimated cost of US$8.2bn. On the other hand, success in promoting industrialization in Pakistan under the CPEC via the planned special economic zones is likely to be limited. Although the government has promised reduced red tape and tax concessions, a broadly difficult business environment will continue to deter investors. Export-oriented Chinese firms facing rising labour costs at home could consider relocating to the SEZs in Pakistan where wages are much lower.
However, the lack of requisite skills and supply linkages in the local market is likely to present a problem, particularly for higher-end manufacturing segments such as electronics. Other markets, especially in South-East Asia such as Vietnam, are likely to remain much more competitive in attracting Chinese manufacturing. It is believed that China’s dominant role in Pakistan’s economy will continue to grow during the forecast period, even if the CPEC unfolds at a slower pace hereafter. The financial sector in particular is likely to receive further investment.
Key recent examples of this include the 40% acquisition of the Pakistan Stock Exchange by a consortium of three Chinese bourses in December 2016, and the full buy-out of Pakistan’s leading online retailer, Daraz, by a Chinese e-commerce giant, Alibaba, in May 2018. For Pakistan, despite some misgivings around debt obligations associated with the CPEC, China remains the largest source of foreign investment, as well as a key strategic ally. China-Pakistan cooperation has grown beyond the economic sphere to include defence and security. The CPEC will remain the fulcrum around which the two countries are set to enhance cooperation in the coming years. Pakistan needs to keep its focus on political stability for the success of CPEC.

Source: Pakistan Observer

Dated on: 15/01/2020

 

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Huawei Tech Day for IT influences in Pakistan

Huawei IT Tech Day 2020 started here in Islamabad. The summit is a three-day platform for ICT influences, government officials, and industry leaders in Pakistan designed to exchange viewpoints, keep the community updated with the latest trends in technology and experience first-hand technological innovation involving IT development.

PTA Chairman, Major General(R) Amir Azeem Bajwa was the chief guest of the event. Minister Counsellor in the Economic and Commercial Office of the Chinese Embassy, Dr. Wang Zhihua, Member IT, Ministry of Information Technology & Telecom Junaid Imam and Deputy CEO Huawei Pakistan, Ahmed Bilal Masud were also present at the event.

The theme of the event, ‘IT Inspires Digital Pakistan’ revolved around three key areas of focus: ‘The road to 5G’, ‘Digital Innovation Shaping the 5G Era’, and ‘Artificial Intelligence – The New World.’ Huawei invited global experts from Europe, Asia, and the Middle East to present their industry insights and successful practices in preparation for 5G. To be better able to cope with the speed with which these industries are evolving, and to contribute to a ‘Digital Pakistan’, 15 special technology demo booths presented live demonstrations showing how real-time IT solutions work.

Chairman PTA Major General(R) Amir Azeem Bajwa while appreciating the initiative to further incorporate digitalization, remarked, “We have been given authorization to carry out tests and trials of 5G, we’re all very excited about it. I’m sure Huawei will have a very major role to play in the launch of 5G services in Pakistan. Emerging technologies like IoT, virtual reality, artificial intelligence and 5G will spur Pakistan towards its digital drive. I thank Huawei for organizing this wonderful event and giving me an opportunity to come here and witness some of the latest technological innovations.”

Minister Counsellor from Chinese Embassy Dr. Wang during his speech encouraged Huawei to bring more of its latest technologies to Pakistan, he further said the Chinese government will encourage more of its high-tech companies to come and invest in Pakistan. “You have the core strength of youth, and amazing IT talent. The way things are going, we are sure that Pakistan will fulfil its goal of becoming ‘Digital Pakistan’ quite soon.”

In a similar vein, Deputy CEO of Huawei Pakistan Masud commented that “Huawei will continuously increase its investment in Pakistan and provide the latest technologies including Full-stack cloud solution, Intelligent Computing, Intelligent Storage & Smart Data Centre solution to help customers accelerate intelligent transformation and build Digital Pakistan.”

The event comes not long after the Pakistan Government announced the ‘Digital Pakistan’ initiative, with telecom companies Zong and Jazz having successfully conducted 5G trial tests in the country. The event will be held for 3 days in Crystal Ball Hall in Marriott Hotel, Islamabad. Technology experts and concerned officials are welcome to attend and see the live demos.

Source: The News

Dated on: 09/01/2020

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Business environment improving under CPEC, Says Chinese scholar

Pakistan business environment has shown considerable improvement in recent years under CPEC, as it is ranked 108 among 190 economies in the WB Ease of Doing Business ranking,
This was stated by the Chinese scholar Zheng Xizhong, while reviewing the impact of CPEC on Pakistan’s economic growth, according to Gwadar Pro App.
Pakistan has secured a place among world’s top 10 business climate improvers. International credit rating agency Moody’s has also upgraded Pakistan’s credit rating outlook to ‘stable’ from ‘negative’.
Foreign companies have made additional investments in Pakistan. Last October, Hong Kong-based port operator Hutchison Port Holdings committed investment of $240 million for container terminal capacity increase at Port of Karachi.
In the same month, Nestlé inaugurated a new juice plant worth $22 million in Punjab to increase its production capacity in Pakistan. Cargill and PepsiCo, global food and agricultural producers, both said they would expand or make new investment in Pakistan.
Fundamentally speaking, the successful development of the China-Pakistan Economic Corridor(CPEC) in recent years has ushered in historic development opportunities for Pakistan.
Second, as I have often said, the construction of the CPEC, Pakistan’s strategic position, Pakistanis’ love for peace and their keen expectation for a better future, have made the world’s major investors termed Pakistan as a place of huge potential and immense investment value.
Third, Pakistan’s security situation has improved substantially, as the government issued a series of favorable policies, and the business environment improved significantly. Fourth, China is one of the world’s major investors.
Its huge investment in Pakistan has played an important leading role and Pakistan is now China’s largest investment destination in South Asia.
If anyone asks about the biggest problem for Pakistan’s investment environment, it might be the political stability, which now worries foreign investors most.
Therefore, in order to attract more and more domestic and foreign capital to invest in Pakistan, the stability of the political situation and the government, and the continuity of policies should be well maintained.
There should be judicial guarantee for the continuity of policies, so the investment policy will not be affected by the change of government, Cheng Xizhong added who is the visiting Professor at Southwest University of Political Science and Law.

Source: Pak Observer

Dated on: 14/01/2020

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CPEC makes strides with project completions and accelerated pace for 2020

Minister for Planning, Development and Special Initiatives Asad Umar Friday said that the pace of projects under China Pakistan Economic Corridor (CPEC) would be accelerated in the coming months following a meeting with Chinese Ambassador Yao Jing. Energy and infrastructure projects under CPEC are completed or near completion, and the ground breaking of Allama Iqbal Industrial City is testament to its success.

Minister for Planning, Development and Special Initiatives Asad Umar Friday said that the pace of projects under China Pakistan Economic Corridor (CPEC) would be accelerated in the coming months.

Talking to Chinese Ambassador Yao Jing on matters relating to CPEC and bilateral economic cooperation on Friday, the minister expressed his satisfaction at the progress on various projects under CPEC.

During the meeting with Yao Jing, the minister stressed the need for Pakistani manufacturing industries to be included in the global value chain by partnering with Chinese companies.
The ambassador assured the minister that the Chinese government was keen to promote such relationships between businesses and manufacturing industries of both the countries. The minister emphasised that the huge potential in the sector could be explored by modernising its various sub-sectors.

SEZ development has already entered an important phase and efforts are underway to ensure successful Pakistan-China industrial cooperation

In September 2019, Yao Jing said CPEC projects in energy and infrastructure sectors have either been competed or are near completion. Speaking at a ceremony at the Rawalpindi Chamber of Commerce and Industry (RCCI), the envoy said completion of phase-I of CPEC had set a strong foundation for the second phase, which would focus on the development of Special Economic Zones (SEZ), strengthening trade and cultural ties through joint ventures and exchange of delegations.

The Chinese envoy said the private sector should come forward and play its due role in strengthening trade linkages between the two countries. He also pointed out that Pakistan could play the role of a bridge between the East and West.

“SEZ development has already entered an important phase and efforts are underway to ensure successful Pakistan-China industrial cooperation,” he remarked.

He highlighted that China had granted duty-free access for export of 313 goods under the second phase of China-Pakistan free trade agreement (FTA). “This will help increase exports by tapping Pakistan’s potential in agriculture, textile, food, minerals, engineering, and other sectors.”

Until recently, Pakistan remained at risk of being placed on the “blacklist” of Financial Action Task Force (FATF), a global watchdog monitoring terror financing and money laundering around the world, experts warn.

The global watchdog’s regional body — Asia Pacific Group (APG) — examined Pakistan’s performance on key issues related to terror financing and money laundering at a two-day preliminary meeting in Bangkok in early September.

With the dispatch of Pakistan’s detailed reply to the Joint Group of the Financial Action Task Force (FATF), a major step towards the removal of the country from the grey list may be taken.

The recent ground breaking of Allama Iqbal Industrial City in Faisalabad Special Economic Zone is testament to CPEC’s work and an important breakthrough for Pakistan. The mega project is linked with CPEC Economic Zones and Chinese diplomats had been quietly complaining that Pakistani institutions and businesses are not geared to benefit from “Industrial Relocation” which China is offering.

FIEDMC, a public private initiative of Punjab Government since 2004, has thus proved its management potential by being the first entity to bring a CPEC linked Industrial Zone to the stage of take-off.

This is the first CPEC linked Economic Zone that is being operationalized out of the nine zones that were conceived.While unfolding the salient traits of the Allama Iqbal Industrial City project to media at the project’s groundbreaking site, Chairman FIEDMC Mian Kashif said ‘This mega project takes the lead among the project of Special economic zones planned under CPEC as being the first to operationalize among 9 planned’.

Pakistan is an attractive investment destination for foreign investors, steadily developing under the dynamic leadership of PM Khan and holds a large diverse market with a rich array of resources and export-oriented companies that would prosper with ease in the comforts of Allama Iqbal Industrial City and would contribute more towards Pakistan’s economy by attracting more foreign investment, which currently Pakistan is in dire need of, he went on to say.

Source: Global Village Space

Dated on: 11/01/2020

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SEZ’s establishment to enable joint ventures between Pakistan, China, says Umar

Minister for Planning believes Special Economic Zones establishment would allow setup of joint ventures in manufacturing between Pakistan and China companies.
Collaboration in the agriculture sector between Pakistan and China was also during Umar’s meeting with Chinese ambassador.

Minister for Planning Asad Umar has said that the development and operationlization of Special Economic Zones (SEZs) under China Pakistan Economic Corridor (CPEC) is government’s top priority.

The minister added the establishment of SEZs would allow setup of joint ventures in manufacturing between Pakistan and China companies. The minister expressed these views during his meeting with Ambassador of Peoples Republic of China, Yao Jing, who called on the minister in Islamabad on Friday.

The envoy assured the minister that the Chinese side is keen to promote such relationships between businesses and manufacturing industries.

The development of SEZ’s is central to the Phase-II of CPEC under which three SEZs will be built, namely Rashakai (Nowshera), Allama Iqbal (Faisalabad) and Dhabeji (Thatta).

The government has announced incentives including tax holidays to attract business to make investments in Pakistan through joint ventures with local industry.

Meanwhile, collaboration in the agriculture sector was also discussed during the meeting. Asad said that there exist massive potential in agriculture sector by modernizing and upgrading its various sub sectors.

He underlined the need to expand collaboration in agriculture sector.

Source: Business Recorder

Dated on: 10/01/2020

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Chinese industries to relocate in Pakistan: PM

Prime Minister Imran Khan on Friday said Special Economic Zones (SEZs) would create the opportune environment for Chinese industries to relocate to Pakistan.

“[Chinese] Premier Li [Keqiang] has assured me that they would send Chinese industries to us if we create the right environment,” the premier said at the groundbreaking ceremony of the Allama Iqbal Industrial City in Faisalabad.

The industrial city, planned over 4,000 acres, is a mega project of the Faisalabad Industrial Estate Development and Management Company’s (FIEDMC) SEZ and being established under the China-Pakistan Economic Corridor (CPEC).

“This [SEZs] is not only important because the Chinese are ready to invest in our country, but also because they will transfer their technology to us, increase our productivity and set up technical institutes,” PM Khan said after unveiling a plaque to launch the construction of the project.

The prime minister pointed out that Vietnam had greatly benefited by drawing Chinese industries, increasing its exports, GDP and wealth.

The Allama Iqbal Industrial City is one of nine SEZs planned under the CPEC Industrial Cooperation Framework.

Three of them, Allama Iqbal Industrial City, the Rashakai SEZ in Khyber-Pakhunkhwa and Dhabeji SEZ in Sindh, have been declared prioritised SEZs by the governments of Pakistan and China.

The mega project in Faisalabad is expected to create 300,000 jobs for the people of Punjab in the next five years and attract an investment of around Rs400 billion in automobiles, value-added textiles, engineering, pharmaceuticals, food processing, chemicals, construction materials, FGCG and packaging sectors.

It will contribute to the country’s GDP, increase exports and encourage import substitution.

The prime minister said poverty alleviation in the country was only possible by doing away with the anti-investor mindset and promoting wealth creation through industrialisation.

He noted that the country was moving towards industrialisation until the 1960s when an anti-investor mindset and policies were promoted.

“Industrialisation is inevitable as the agricultural sector alone cannot produce enough jobs for the country’s youth,” he added.

“Pakistan will follow the successful Chinese model of allowing wealth creation that has allowed China to steer around 700 million people out of poverty within three decades.”

The premier termed the establishment of first SEZ in Punjab a giant leap towards the accomplishment of his government’s vision to alleviate poverty through industrialisation.

He also stressed the need for giving special attention to increasing exports and agricultural productivity and promoting tourism to truly exploit the existing potential.

Federal Planning Minister Asad Umar, Adviser to the Prime Minister on Commerce Abdul Razzak Dawood, Punjab Chief Minister Usman Buzdar, Punjab Governor Chaudhry Muhammad Sarwar, provincial ministers and FIEDMC Chairman Mian Kashif Ashfaq also attended the ceremony.

The FIEDMC chairman briefed the prime minister about the project.

Speaking at the event, Mian Kashif Ashfaq said around 3,317 acres had been acquired for the industrial city.

“Deals have been signed for the sale of 700 acres of this land and many local and foreign investors are in touch with us,” he added.

“Twelve companies which have purchased land here [in the industrial city] will be handed over possession this month so that they can build their units.”

The FIEDMC chairman further elaborated that 400 industries would be set up in the industrial city with an investment of Rs400 billion, providing jobs to over 0.3 million people.

“When I became the FIEDMC chairman, several investors contacted me but there was no land for them here. Now there is land [the industrial city] available that has an infrastructure, gas and other facilities.”

Source: Express Tribune

Dated on: 04/01/2020

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13 CPEC projects worth $11bn have completed, NA informed

Parliamentary Secretary for Planning Development and Reform Kanwal Shauzab on Thursday informed the National Assembly that the total cost of China-Pakistan Economic Corridor (CPEC) projects including ML-1 stands at 50 billion dollars.

Responding to a question during the question hour, she said out of the total projects, 13 projects worth around 11 billion dollars have been completed, while 13 projects worth 18 billion dollars are under implementation. Another 21 billion dollar projects are in the pipeline, she added. About 46 percent work on Gwadar East Bay expressway has completed, she said, adding that New Gwadar International Airport is being built with the Chinese grant.

Federal Minister for Energy Omar Ayub informed the National Assembly that Rs 300 million was allocated for upgradation of 132 kilowatt grid station and electrification of villages in Chitral.

He was responding to a calling attention notice of members of National Assembly Moulana Abdul Akbar Chitrali and Shahida Akhter Ali regarding delay in laying of electricity transmission lines to union councils Broze and Ayon and villages Kesu, Arsun, Ashreit and Arndu despite release of funds. The minister told the House that Rs 150 million will be spent on upgradation of grid station and Rs 150 million on laying of transmission lines and electrification. The finance ministry will soon release the allocated funds, he added.

House told another 13 projects worth $18 billion are under implementation while projects worth $21 billion are in the pipeline

While speaking on a point of order, MNA Shazia Sobia complained about the problem of overbilling at Parliament Lodges.

The power minister assured the House that National Electric Power Regulatory Authority (NEPRA) will announce new tariff to revise down electricity rates for community tube wells installed for purpose of supplying drinking water in different areas of Islamabad
He was replying to a calling attention notice of MNAs Ali Nawaz Awan, Raja Khurram Shahzad and Nafeesa Inayatullah Khan Khattak regarding electricity connections for tube wells meant for community-based supply schemes in Islamabad Capital Territory at the higher rate of A3 tariff instead of the lower DI tariff.

Responding to concerns of MNAs over a recent incident in Nankana Sahib, Omar said Pakistan is a peaceful country and every Pakistan is a free citizen. He said the government is bound to protect life and property of every citizen. Minister for Religious Affairs Noorul Haq Qadri said the Nankana Sahib incident occurred when people were protesting against the local administration over the arrest of some persons. Some miscreants gave it a religious colour and India used the incident to unleash propaganda against Pakistan, he said. The Ministry of Commerce informed the National Assembly that as a result of Generalized Scheme of Preferences (GSP+), Pakistan’s garments exports to European Union (EU) increased from $6.87 billion in 2013 to $7.98 billion in 2018. In a written reply in the National Assembly, the ministry told that under GSP+ Pakistan has duty-free access to the EU market for garments and apparel and Pakistan’s exports in garments and hosiery have increased by 92 percent.

Source: Daily Times

Dated on: 10/01/2020

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