Islamabad: China Pakistan Economic Corridor (CPEC) Chairman Khalid Mansoor on Saturday (November 14) said that the commencement of CPEC Phase-II will bring prosperity and create job opportunities for the country, news sources reported. Addressing a delegation of 70 Chinese firms, he said that the government is providing high incentives for industrial development in Special Economic Zones (SEZs) with a 10-year tax holiday for investors.
As per the details, he said that the government is taking special care to develop all nine SEZs. The chairman said that four of the nine SEZs are at advanced stages of development where colonisation has started. He said that the development of CPEC will bring prosperity and it will strengthen the bilateral ties between China and Pakistan. Speaking on the occasion, Minister of Planning and Development Asad Umer said that more Chinese companies should explore areas of investment in Pakistan’s industrial sectors to boost employment and Foreign Direct Investment (FDI). He said that the government has reduced import duties on capital goods for the industrial units to encourage more colonisation of SEZs.
On the occasion, the Chinese Ambassador to Pakistan Nong Rong said that the Chinese companies will work closely with the CPEC authority to create opportunities for investment in the second phase of CPEC. It is pertinent to note that China and Pakistan are entering the second phase of CPEC. The project is a flagship venture for both countries, under which China has pledged to invest USD 62 billion over the next decade in various sectors including agriculture, road infrastructure, industrial zones, and power generation.
Nauman Ahmad is an imaginative Pisces whose love for literature and nature is unparalleled. When he's not reading or hiking, he's sleeping and eating, which gives him plenty of energy for his next adventure.
