ISLAMABAD: The Cabinet Committee on China-Pakistan Economic Corridor (CCoCPEC), while directing the FBR chairman to ensure his presence in future meetings, has sought a detailed briefing on the framework of rules on exemptions required for Gwadar Free Zone.
According to details, the FBR Policy Member informed the forum on Tuesday that the tax department is dealing with all exemptions within the existing framework of rules on the subject; however, the status of progress shall be ascertained from related quarters in the FBR.
On this, CCoCPEC Chairman Asad Umar expressed displeasure over the continuous absence of FBR chairman from the panel’s meetings.
Noticing slow progress on different CPEC projects, the chair was of the view that the CPEC forum was underutilized. “Therefore, all concerned ministries must submit summaries to the CCoCPEC in respect of projects related to CPEC, where proceedings are pending for inter-ministerial consultation,” he added.
Meanwhile, the CPEC Authority chairman informed the meeting that under the CPEC framework, 17 different projects worth $13 billion related to infrastructure, energy and socio-economic development of Gwadar had been completed; 21 projects of $12 billion were under process; while 26 projects of around $28 billion were in the pipeline.
During the ensuing discussion, the foreign affairs minister emphasised the strategic importance of the CPEC programme for Pakistan. He stated that this programme should be viewed not only from a financial/economic angle but also as part of an overall strategic scenario given the bilateral relationship of Pakistan with China.
He stressed that proceedings on various fronts of the programme should be expedited as slow pace in this respect shall demonstrate lack of resolve to implement CPEC, which would not be in the interest of Pakistan.
