Chinese industries may relocate to Pakistan, parliamentary panel told


ISLAMABAD :The Parliamentary Committee on China-Pakistan Economic Corridor (CPEC) was informed on Thursday that Chinese companies have agreed to dislocate diligence to Pakistan and invest in the country in different sectors.

The commission, which met with MNA Sher Ali Arbab in the president, was briefed by the Minister for Planning, Development and Special Enterprise Asad Umar on the recent visit of Prime Minister Imran Khan to China with reference to CPEC.

He said the high minister gave a comprehensive briefing on investment openings in Pakistan to Chinese companies’ representatives who held meetings with him.

Mr Umar said the root had formerly been done before the high minister’s visit to China to punctuate sectors where Chinese companies could be invited for investment in Pakistan, especially where the country has the implicit to export its yield.“ A relative incitement- grounded data in the region was participated where Pakistan had the edge over other special profitable zones in the world. The focus was substantially on cloth, footwear, medicinal and IT sectors,” he said.

He said that in malignancy of the Covid-19 epidemic, Pakistan had fared more in terms of debt to GDP rate as compared to other countries.

He said the Chinese companies showed interest in investing and shifting their diligence in Pakistan.

“ Chinese are going to establish a essence and paper recycling design in Gwadar for the purpose of import. Another company is going to establish a special profitable zone on the Lahore-Kasur road for the establishment of cotton and dairy- related diligence,” he said.

He noted that artificial intelligence in the IT sector had the biggest occasion in the world where Pakistan had great eventuality to train its youth and bring mortal development.

Mr Umar said a Chinese cloth company located near Lahore has brought$ 60 million in import earnings. Thousands of jobs could be created as a result of further Chinese investment in different sectors of Pakistan, he added.

The clerk of the Ministry of Foreign Affairs also briefed the Committee on the high minister’s visit to China.

The commission appreciated the way taken by the government to boost the frugality through import- grounded diligence. It recommended to the Board of Investment and the Ministry of Power to sit with the Special Economic Zone Dhabeji and Allama Iqbal Industrial City, Faisalabad, independently, to resolve their issues in order to make these zones economic for foreign investment.

The National Highway Authority’s president assured the Committee that the right of way to Rashakai Economic Zone will shortly be granted after necessary documents are submitted by its operation authority.

The Ministry of Interior’s clerk, the clerk for home and ethnical affairs, Khyber Pakhtunkhwa, also briefed the Committee on different way taken for furnishing security to Chinese citizens working on CPEC andnon-CPEC systems.

The meeting was attended by Noor Alam Khan, Sadaqat Ali Khan Abbasi, Umar Aslam Khan, Nafeesa Inayatullah Khan Khattak, Ahsan Iqbal Chaudhary, Murtaza Javed Abbasi, Mehnaz Akber Aziz, Raza Rabbani Khar, Mohammad Aslam Bhootani, Senator Mohammad Tahir Bizenjo and Senator Khalida Ateeb.

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