Monday, September 26, 2022
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According to Asad Umar, the procedure of investing in special zones has been simplified

ISLAMABAD: Pakistan’s Federal Minister for Planning, Development, and Special Initiatives, Asad Umar, has stated that the process of investing in Special Economic Zones (SEZs) has been streamlined for both Chinese and foreign corporations.

He said two days ago the government authorised the streamlined investment procedure for businesses and firms eager to invest and operate in the SEZs, speaking at a ceremony held at the Chinese Embassy for the presentation of prizes to 27 outstanding Pakistani personnel of CPEC projects.

Also read: Another milestone achieved for facilitation and better transport services to Karachities : Asad Umar

Besides, he said, the federal and provincial governments had developed a mechanism to facilitate companies interested in investment in SEZs. He said that despite Covid-19, CPEC made remarkable progress in 2021.

“We have seen completion of projects and most importantly broadening of CPEC that is through the industrial cooperation framework and now it is showing results such as construction work at AIlama Iqbal, Rashakai SEZs as well as expansion of Special Economic Zone in Gwadar.

“The north zone is 35 times larger than the south zone and that shows the confidence of Pakistan’s commitment towards progress and future of CPEC,” the minister said.

He said in the second phase of CPEC, the two countries were focusing on agriculture and science and technology sector.

Also read: According to Umar, Pakistan does not have a “Chinese debt problem.”

The minister said that CPEC was expanding in all fields and many projects started in the first phase had been completed or about to be completed.

“This is the testimony of not just the quality of relationship between Pakistan and China but also evidence of our strong bond and commitment for completion of CPEC projects,” Mr Umar said.

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