Second phase of CPEC: SEZs to help augment industrialisation in country, says SEZA chairman

LAHORE: S M Naveed, Chairman Special Economic Zones Authority (SEZA) during a meeting on Wednesday held at SEZA Secretariat said that Special Economic Zones being developed across the country under the second phase of the China-Pakistan Economic Corridor would further augment Pakistan’s industrial growth.

He said the SEZs will also help in the development of transport, infrastructure and energy sectors. Five SEZs being developed under the CPEC would possess state-of-the-art infrastructure and Pakistan would provide all the necessary facilitation in setting up the industry.

The chairman SEZA urged the local and foreign investors to fully benefit from the improved ease of doing business in the country and utilise the opportunities being offered by Pakistan’s business and investment-friendly policies.

He highlighted that the investment-friendly policies of the country had already started paying dividends, which had encouraged famous mobile phone brands to invest in the manufacturing and assembling of phones in Pakistan.

He also urged the business community to fully utilise and benefit from sectorial policies designed by the government offering incentives like tax breaks, tax refunds, tax reduction, dedicated infrastructure and investor facilitation services.

Terming the CPEC as being reflective of exemplary Pak-China bilateral relations, chairman SEZA said that huge investments under CPEC would further reinvigorate various sectors of Pakistan’s economy, besides attracting investment from friendly countries in different sectors of the Pakistani economy.

He further said the CPEC had already advanced the level of cooperation with Pakistan’s all-weather friend China in the infrastructure and energy sectors.

He said the CPEC has helped Pakistan to develop a world-class road network, which would not only improve internal connectivity but would also help forge closer linkages with other countries in the region.

In the energy sector, he highlighted, steps are being taken to improve the transmission and distribution system of the country under CPEC, enhance system reliability, address the chronic problem of circular debt and ensure sustained provision of energy at affordable rates for industrial and commercial activities.

Expressing satisfaction with the multi-dimensional and multi-sectoral work being undertaken by China in Gwadar, the chairman SEZA said that it would help realise the dream of making Gwadar port a center for regional trade and investment.

He further said that Gwadar port would be an ideal sea route for trade with Afghanistan and the Central Asian Republics.

Copyright Business Recorder, 2023