Prime Minister Shehbaz Sharif has formed the Cabinet Committee on Chinese Investment Projects (CCoCIP) to enhance investment from China and facilitate Chinese investors.
As per a notification issued by the Prime Minister’s Secretariat, the Minister for Planning, Development and Special Initiatives will serve as the chairman of the CCoCIP.
The committee members include the Minister for Foreign Affairs, Minister for Interior, Minister for Finance, Minister for Commerce, Minister for Petroleum, Minister for Power, Minister for Railways, and Minister for Science and Technology.
Additionally, the notification states that the CCoCIP may also invite the governor of the State Bank of Pakistan, secretary of Foreign Affairs, secretary of Interior, secretary of Finance, as well as other secretaries of ministries and divisions.
In a related development, Pakistan and China have accelerated efforts to advance Phase-2 of the China-Pakistan Economic Corridor (CPEC) and agreed to establish a Working Group to explore five new economic corridors.
These corridors include Corridor of Job Creation, Corridor of Innovation, Corridor of Green Energy, and Inclusive Regional Development.
The decision was made following a meeting between Pakistan’s Federal Minister of Planning, Development, and Special Initiatives, Ahsan Iqbal, and Chinese envoy Jiang Zaidong at the Planning Ministry.Â
