FAISALABAD: The China-Pakistan Economic Corridor (CPEC) is expected to become fully functional by 2020 and Pakistan has to play its role prudently, said Faisalabad Chamber of Commerce and Industry (FCCI) Vice President Ahmad Hasan.
Speaking at a meeting, he said that CPEC is designed to benefit two-thirds of the world and in this connection Pakistan has to formulate its policies by taking all stakeholders on board.
The meeting was attended by M Amanullah, joint chief economist P&D department Punjab, who gave a detailed presentation on the CPEC project. Hasan said that most of the local industry is currently running at only 40% of its installed capacity, adding that “with this dismal position we cannot bring down our cost of doing business”.
Speaking on the occasion, Amanullah dispelled rumours that special incentives were being doled out to Chinese investors.
He said that the local industry will be fully protected and assured that the Punjab government will provide a level-playing field to the Chinese as well as the Pakistani investors.
He told that new economic zones are being developed to offload the pressure on industrialised cities of Faisalabad, Sialkot and Lahore.
Published in The Express Tribune, January 29th, 2017.
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