Quetta to become industrial, trading estate in 2018-19
A host of projects are expected to be completed during the next fiscal
Once the CPEC projects become fully functional, a win-win situation will take place for both the countries. PHOTO: EXPRESS
ISLAMABAD:
The country’s industrial sector is expected to gain further momentum in 2018-19 with improvement in energy supply, law and order situation, increased government expenditure in infrastructure development like industrial estates and special economic zones (SEZs), and investment opportunities in the wake of the China- Pakistan Economic Corridor (CPEC) project.
According to official documents, the proposed SEZs along the CPEC route would bring investment therein through shifting of some production units from China, which would further improve industrial output in coming years.
Is CPEC also a game changer for Balochistan?
The federal government has initiated various projects for revival of industry and boosting growth in Pakistan. The basic objective of these projects is the provision of various facilities to investors like developed infrastructure, skilled workers, marketing facilities and common facility centres.
Some of the important projects include CPEC Industrial Cooperation Development Project, Product Development Centre for composites-based sports goods in Sialkot, Fruit, Vegetables and Condiments Processing Centre in Naushehroferoze district, Hyderabad Engineering Support Centre, establishment of Bostan Industrial Estate Phase-I, and provision of infrastructure for Quetta Industrial and Trading Estate (Phase-II).
Moreover, Vision 2025 has suggested a cluster-based development model to transform the industrial sector.
CPEC starts bearing fruit for people
It is expected that the project titled ‘Cluster Development Based Industrial Transformation Plan -V2025’ would immensely help the manufacturing sector through targeted interventions.
Similarly, the Central Development Working Party (CDWP) recently approved the project titled ‘1,000 Industrial Stitching Units’. In Phase-I of this project, 150 industrial stitching units would be established throughout the country.It is expected that this project would further boost garments sector by bringing in value addition, improving productivity and cluster development.
Work on CPEC is also progressing on a fast track and nine SEZs have been identified by the provinces which will create new economic opportunities and boost industrial growth.
Russia to become part of game changer CPEC
The CDWP recently approved a project titled ‘China Pakistan Economic Corridor - Industrial Cooperation Development Project’. It aims at formulation of long-term industrial cooperation development plan till 2030; to carry out research studies and identification of investment opportunities for the establishment of SEZs; facilitation and implementation of industrial cooperation projects; and overall coordination of all matters concerning industrial cooperation under CPEC with Chinese counterparts.
It is pertinent to mention here that Chinese have recently developed 60 acres land out of nearly 2,300 acres as free economic/export processing zone in Gwadar and leasing out plots to prospective investors like industrialists.
As far as policies are concerned, Textile Policy 2014-19 is under active implementation to boost textile sector, particularly its exports.
CPEC to end Balochistan miseries: PPP leader
The strategy to enhance export competitiveness of the commerce sector is to increase the number of products in the export-base in order to decrease dependence on only two major sectors – textiles and rice.
Approach for the improvement of the sector includes exploration of lucrative and approachable markets coupled with better competitiveness of our products.
The Strategic Trade Policy Framework (STPF) 2015-18 aims at enhancing annual exports to $35 billion by improving export competiveness which will help in increasing volume and value of exports.
Gwadar port aims to become new Dubai
The ‘Expo Centre Peshawar’ having a cost of Rs2.5 billion is the prominent project of the commerce sector which will continue during the financial year 2018-19, whereas other two projects - Expo Centre Islamabad and Expo Centre Quetta - are under process.
These projects will help in materialising objectives of Vision 2025 and 12th Five-Year Plan and will enhance regional trade, increase exports, products development, and diversification of markets as well as increasing trade volume in domestic commerce.
The country’s industrial sector is expected to gain further momentum in 2018-19 with improvement in energy supply, law and order situation, increased government expenditure in infrastructure development like industrial estates and special economic zones (SEZs), and investment opportunities in the wake of the China- Pakistan Economic Corridor (CPEC) project.
According to official documents, the proposed SEZs along the CPEC route would bring investment therein through shifting of some production units from China, which would further improve industrial output in coming years.
Is CPEC also a game changer for Balochistan?
The federal government has initiated various projects for revival of industry and boosting growth in Pakistan. The basic objective of these projects is the provision of various facilities to investors like developed infrastructure, skilled workers, marketing facilities and common facility centres.
Some of the important projects include CPEC Industrial Cooperation Development Project, Product Development Centre for composites-based sports goods in Sialkot, Fruit, Vegetables and Condiments Processing Centre in Naushehroferoze district, Hyderabad Engineering Support Centre, establishment of Bostan Industrial Estate Phase-I, and provision of infrastructure for Quetta Industrial and Trading Estate (Phase-II).
Moreover, Vision 2025 has suggested a cluster-based development model to transform the industrial sector.
CPEC starts bearing fruit for people
It is expected that the project titled ‘Cluster Development Based Industrial Transformation Plan -V2025’ would immensely help the manufacturing sector through targeted interventions.
Similarly, the Central Development Working Party (CDWP) recently approved the project titled ‘1,000 Industrial Stitching Units’. In Phase-I of this project, 150 industrial stitching units would be established throughout the country.It is expected that this project would further boost garments sector by bringing in value addition, improving productivity and cluster development.
Work on CPEC is also progressing on a fast track and nine SEZs have been identified by the provinces which will create new economic opportunities and boost industrial growth.
Russia to become part of game changer CPEC
The CDWP recently approved a project titled ‘China Pakistan Economic Corridor - Industrial Cooperation Development Project’. It aims at formulation of long-term industrial cooperation development plan till 2030; to carry out research studies and identification of investment opportunities for the establishment of SEZs; facilitation and implementation of industrial cooperation projects; and overall coordination of all matters concerning industrial cooperation under CPEC with Chinese counterparts.
It is pertinent to mention here that Chinese have recently developed 60 acres land out of nearly 2,300 acres as free economic/export processing zone in Gwadar and leasing out plots to prospective investors like industrialists.
As far as policies are concerned, Textile Policy 2014-19 is under active implementation to boost textile sector, particularly its exports.
CPEC to end Balochistan miseries: PPP leader
The strategy to enhance export competitiveness of the commerce sector is to increase the number of products in the export-base in order to decrease dependence on only two major sectors – textiles and rice.
Approach for the improvement of the sector includes exploration of lucrative and approachable markets coupled with better competitiveness of our products.
The Strategic Trade Policy Framework (STPF) 2015-18 aims at enhancing annual exports to $35 billion by improving export competiveness which will help in increasing volume and value of exports.
Gwadar port aims to become new Dubai
The ‘Expo Centre Peshawar’ having a cost of Rs2.5 billion is the prominent project of the commerce sector which will continue during the financial year 2018-19, whereas other two projects - Expo Centre Islamabad and Expo Centre Quetta - are under process.
These projects will help in materialising objectives of Vision 2025 and 12th Five-Year Plan and will enhance regional trade, increase exports, products development, and diversification of markets as well as increasing trade volume in domestic commerce.