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LAHORE: Announcing a plan to establish state-of-the-art Special Economic Zones (SEZs) in the province, Chief Minister Chaudhry Pervaiz Elahi said on Thursday they will get benefit from a successful model of the world in this regard.

He said this during a meeting with a delegation headed by the FPCCI President Irfan Iqbal Sheikh at the CMO today. Matters pertaining to resolving the problems of the traders’ community and the industrialists came under discussion during the meeting.

The CM maintained that our government soon after coming into power created ease for the traders in doing business. The timing restriction ban on doing business has been lifted across the province and permission has been granted to open the business centres and shops the whole week, he stated.

“We would provide more facilities to the traders and the industrialists in the province,” he said, adding: “Agro-based economy will be promoted in the province; if the agricultural sector thrives, the economy will be strengthened.”

He revealed that a focal person will be appointed in the CMO in order to resolve the problems of the traders’ community and the industrialists. He also resolved to develop the old industrial estates adding the escalation of industrial progress will generate new employment opportunities alongwith strengthening the economy.

FPCCI President Irfan Iqbal Sheikh on the occasion lauded the CM and remarked that the work which was done during his previous tenure for the industrial progress is even mentioned and highly acknowledged today. He appreciated Rescue 1122 and the Traffic warden system and such splendid works speak for themselves.

Business leader Mian Anjum Nisar remarked that the foundation stone of the Sundar Industrial Estate was laid during the former tenure of Pervaiz Elahi and Expo Centre was set up. He acknowledged all the good works being done by him as they are remembered even today.

Moreover, talking to the US Consul General William K. Makaneole, the CM held that Pakistan-US relations have witnessed ups and downs. The Punjab government is desirous of maintaining the best relations with the US. Pakistan is a peaceful country and desirous of friendly relations with neighbouring countries, he added.

William K. Makaneole stated that the USA gives great importance to its relations with Pakistan and cooperation in different sectors will be further expanded with the Punjab government.

Copyright Business Recorder, 2022

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SAMIR SARDANA Aug 12, 2022 12:48pm
SEZ salvation-2 In lieu of the above concessions,what can the Pakistani state demand from PRC ? That the FX earned on Exports,be brought into Pakistan immediately That each SEZ unit,should be NFE positive throughout That the dividend repatriation be staggered,so that the PKR is supported,and there is no need for IMF or Saudi loans (So the FX treasury of SBP,is outsourced to the PRC-SEZ) That the Capital in the SEZ not be repatriated for 20 years That the SEZ profits can be invested in SBP-USD/YUAN Bonds (to bring parity with Chinese investments) - which will be priced lower than IMF/Saudi/US Hedge Fund money This will be enough to stabilise the PKR,and zeroise the cost of the sterlisation and FX intervention transactions of the SBP. Even if the SEZ is moving cash - it is irrelevant,as the same cash could come via hedge funds,into Pakistani High Yield USD Bonds likein Argentine/Turkish Bonds).The cash whiich goes into High Yield Debt, VIA FUND HOUSES,is basically,partly slush cash.
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