PM orders progress report on CPEC projects

ISLAMABAD: Prime Minister Imran Khan on Friday chaired a meeting to review progress on China Pakistan Economic Corridor (CPEC) and to set targets for short to mid-term phase, focusing on cooperation in industrial, socio-economic, agriculture and development of Gwadar.

Planning, Development and Reforms Minister Makhdoom Khusro Bakhtiar briefed the participants on the outcome of the 8th CPEC Joint Cooperation Committee meeting and progress on the projects, said a press release issued by the PM Media Office.

It was decided to make the period as “a phase of industrial cooperation, socio-economic and agriculture sector development”. Timelines for the development of prioritized special economic zones (SEZs) were finalized to ensure groundbreaking in first half of 2019.

The prime minister directed to make full use of Chinese investors’ visits this year, promote awareness amongst investors on Pakistan’s tax policies, market SEZs aligned with its development and ensure ease of doing business.

It was directed that a timeline-based policy on provision of utilities to SEZs be prepared at the earliest. It was also decided to promote joint ventures in petrochemicals, iron and steel, food and agriculture.

The prime minister instructed to form a CPEC Business Advisory Council consisting of leading Pakistani business executives to create an interface with the private sector. He instructed that development of the corridor should continue with priority to the development of western route. It was emphasized that infrastructure development needs a policy of pragmatism and due financial diligence.

In the same spirit, a high-level committee comprising of the ministers for planning, railways and finance was formed to finalize modalities on Pakistan Railways ML-1, the strategic project of CPEC.

The prime minister directed that the Pakistani side should finalize a roadmap to promote agriculture sector, invite Chinese companies to explore investment opportunities in Pakistan and leverage agro value chains.

He directed that the development of Gwadar should be planned as a smart port city so that it could be made a transshipment and petrochemical hub.