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ISLAMABAD: A 15-member business council to accelerate industrialisation under the China-Pakistan Economic Corridor (CPEC) was re-constituted on Tuesday.

The federal government has notified the name of reconstituted business council, which has three members from public sector, and rest from the business community.

The council on the CPEC is initially formulated for a period of two years from the date of notification and shall automatically stand dissolved on the date of expiry of its term, unless otherwise further extended through a notification by the authority. Advisor to the Prime Minister on Commerce and Investment Abdul Razak Dawood will be the chairman and member of the steering committee, Chairman Board of Investment (BOI) Atif R Bokhari and Chairman CPEC Authority Lt-General Asim Saleem Bajwa (retd) are members of the steering committee.

Chairman BOI is convener of the joint working group on industrial cooperation.

The advisory group is a consultative forum between business community and the government on matters related to private investments under the CPEC and it will make specific recommendations for private sector investment in Pakistan under industrial cooperation.

The group will propose feasible projects for investments for discussion with Chinese Business Companies, and to formulate strategies for expediting on going and future B2B projects under industrial cooperation. The forum will discuss and explore opportunities and develop new investment model for future projects of the CPEC, and advise on developing an integrated approach for future development of industrial cooperation under the CPEC with a special focus on agriculture, industry, housing, tourism and any other potential area or sector mentioned in the CPEC long-term plan.

Copyright Business Recorder, 2020