Pakistan to prioritize operation of SEZs under CPEC: minister Ahsan Iqbal stated while chairing a high level meeting.
Federal Minister for Planning, Development, and Special Initiatives, Professor Ahsan Iqbal, led a high-level meeting on Tuesday to evaluate the progress of Special Economic Zones (SEZs) under the China-Pakistan Economic Corridor (CPEC).
Senior representatives from the Special Investment Facilitation Council (SIFC), the Board of Investment (BOI), and the Ministry of Planning attended the meeting.
The SIFC officials provided updates on the infrastructure and operational status of SEZs nationwide, according to a press release.
The Minister underscored the need for efficient investor facilitation, warning that high costs could discourage potential investors. He emphasized that creating a favorable environment for investors should be the government’s primary focus.
Acknowledging Pakistan’s developmental challenges over the past 77 years, he stressed the importance of political stability, peace, policy consistency, and reforms as key factors for sustainable growth, drawing comparisons with countries like China, South Korea, Vietnam, and Malaysia.
Referring to Turkey’s economic strides under Tayyip Erdogan and India’s growth despite issues like corruption, Ahsan Iqbal highlighted the need for consistent policies to drive economic progress in Pakistan.
He expressed concerns over Pakistan’s lagging economic performance compared to regional peers and emphasized the urgency of implementing long-term economic reforms to secure the country’s future.
Addressing future generations, he cautioned about the potential disparity in economic achievements, remarking, “If by 2047, the per capita income of Indian Muslims surpasses ours, what will we tell our future generations?” He identified the next 23 years as critical for Pakistan to achieve global competitiveness.
The Minister stressed prioritizing the operationalization of existing SEZs over launching new ones and instructed authorities to ensure essential infrastructure, such as electricity and water, is available in all SEZs. He also recommended aligning technology zones with economic zones for better coordination.
He urged adopting best practices from Vietnam’s SEZ model to enhance the performance of Pakistan’s industrial zones.
To address energy shortages in Gilgit-Baltistan, Ahsan Iqbal directed authorities to facilitate Chinese solar companies in initiating solar projects in the region.
Lastly, he called for an actionable plan and monitoring framework to accelerate industrial zone development, urging all ministries and provinces to take proactive measures in this initiative.
Related Posts
