Planning minister calls for joint efforts to attract Chinese investors

Khusro Bakhtiar says second phase of CPEC will focus on industrial cooperation, trade, agriculture

BEIJING: Pakistan and China should work to encourage Chinese enterprises and investors to invest in Pakistan, said Federal Minister for Planning, Development and Reform Makhdoom Khusro Bakhtiar.

In a meeting with China Roads and Bridges Corporation (CRBC) CEO Du Fei during his visit to Beijing, Bakhtiar appreciated the development of Rashakai Special Economic Zone in Khyber-Pakhtunkhwa.

He highlighted the contribution of Chinese government in building the Karakoram Highway and other mega projects. The minister recommended that certain projects in the eastern corridor of CPEC could be taken up on build-operate-transfer (BOT) basis.

Speaking on the occasion, Du applauded efforts of the planning ministry to take the China-Pakistan Economic Corridor (CPEC) to the next phase. He acknowledged that Rashakai would be a model for other Special Economic Zones.

The CEO said his company was keen to undertake highway projects on the BOT mechanism based on pragmatic planning.

Belt and Road Forum

Addressing a session on the ‘Connectivity of Policy’ of the second Belt and Road Forum for International Cooperation on Thursday, Bakhtiar said the second phase of CPEC would focus on industrial cooperation, trade, agriculture and socio-economic development.

He said currently 22 projects were being implemented at a fast pace compared to other corridors of the Belt and Road Initiative (BRI), making CPEC the central corridor of the initiative.

The minister was of the view that the BRI would ultimately change the way economic centres of partner countries were connected. Costs of productivity, transport and logistics as well as competition and market opportunities would be impacted, he said.

“Partner countries will find more opportunities to add value and carry out intermediate trade in a more time-efficient and cost-effective manner,” he said.

(WITH ADDITIONAL INPUT FROM APP)

Published in The Express Tribune, April 26^th, 2019.

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