- Planning minister asks Chinese developer to ensure a level playing field for local as well as foreign investors at Rashakai SEZ
ISLAMABAD: The present government was committed to establishing special economic zones (SEZs) in order to facilitate trade activities in Pakistan, said Planning, Development and Reform Minister Makhdum Khusro Bakhtyar during his meeting with a Chinese delegation, headed by China Road and Bridge Corporation (CRBC) Chief Financial Officer Dong Futang, in Islamabad.
Planning Secretary Zafar Hasan, Infrastructure and Connectivity member Malik Ahmad Khan, China Pakistan Economic Corridor Project Director Hassan Daud and other officials were also present on the occasion.
Khusro Bakhtyar appreciated the role of CRBC in the implementation of Karakorum Highway and other infrastructure projects, saying he was confident that the Chinese firm would continue its efforts to ensure efficient execution of special economic zones.
CRBC, a Chinese state-owned company, has already signed a memorandum of understating and an engagement agreement with the Khyber Pakhtunkhwa government to jointly develop the Rashakai Special Economic Zone.
Bakhtyar stressed on a clear timeline and business model for the development of SEZ at Rashakai. He emphasized that the developer should focus on the relocation of Chinese investment from local as well as foreign enterprises to ensure import substitution and value addition of the products.
Planning Secretary Zafar Hasan also emphasised on developing a state-of-the-art infrastructure in order to facilitate relocation of Chinese companies and ensure a level playing field for local as well as foreign investors.
Dong Futang on the occasion said all efforts and experiences would be applied to develop Rashakai SEZ at par with developed Chinese zones, adding that locals will be preferred for employment in development and operation stages.
Pakistan’s natural resource potential would be fully utilised to make this project fruitful for all.
