Planning Minister Ahsan Iqbal, on the other hand, provisioned, on Friday, that two model industrial zones should be developed in Pakistan by China on a turnkey basis. it will be a yardstick for other industrial zones of the country. The announcement came during a progress review meeting of the China-Pakistan Economic Corridor (CPEC).
The meeting was attended by senior officials including Special Assistant to Prime Minister on Foreign Affairs Tariq Fatemi and members of the Planning Commission, who reviewed progress in key sectors-Energy, Infrastructure, Food & Agriculture, and Special Economic Zones (SEZs).
Iqbal ordered BOI to finalize the availability of land for SEZ development in Islamabad. Railways Ministry gave updates on the ML-1 and the Karakoram Highway (KKH) projects. Iqbal noted the commitment of the Chinese Premier to send technical experts to Pakistan for the accomplishment of the ML-1 optic. It was also agreed that a team of financial experts would accompany them for efficient project resolution.
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The minister directed the National Highway Authority to fast-track progress for KKH in collaboration with the Chinese side since it is a strategic project under CPEC Phase II. For energizing the current electricity requirements of the Rashakai SEZ, Iqbal also instructed the Power Division and PESCO to energize the internal network of this SEZ.
As for the tax exemption policy of Gwadar, it was made clear by the officials that the China Overseas Port Holding Company and other Free Zone enterprises were able to receive tax holidays, among other things. Notifications have been sent out indicating that no turnover tax incorporates SEZ enterprises located in Gwadar. Also, the review was made on going about the training of 1,000 agriculture graduates in China, with directions on organizing travel for them during Ramazan and providing them with Halal food.
Iqbal stated, weaving the main point that agricultural development is key to development in Pakistan, and that in a short time, the Prime Minister will announce the 5Es National Economic Transformation Plan Framework…