Pakistan, China to establish SEZs through joint ventures: Yao Jing

Yao Jing

ISLAMABAD: Ambassador Yao Jing said China and Pakistan have started establishing joint ventures under China-Pakistan Economic Corridor (CPEC) framework of industrial cooperation to boost exports.

“Our focus is now developing four special economic zones (SEZs), and it requires time to place state-of-the-art infrastructure to attract investment.

The CPEC is regional project where companies from other countries can also invest,” Ambassador Yao said while addressing roundtable conference titled Searching for Economic Security and Growth organized by Institute of Policy Reforms (IPR) at COMSTECH Auditorium.

The Ambassador said that the CPEC was purely a commercial project, and there would be three new areas of future cooperation under the second phase of CPEC. In fact, 11 joint ventures have already been established in the SEZ at Faisalabad for the purpose of boosting exports.

He added that there were 25 projects underway through CPEC mechanism and most of them would be completed in first half of the current year.

Moeed Yousaf, Minister of State and Special Assistant to PM on National Security and Strategic Policy Planning said the CPEC possessed important vision, because Pakistan required sustained and long-term growth trajectory that would help establishing synergies to achieve the desired objectives.  

Yawar Ali, Chairman Pakistan Business Council (PBC) said that Pakistan needed Charter of Economy, which means the government would have to slash down subsidies by bringing improvement in State Owned Enterprises (SOEs)’ reports Gwadar Pro mobile App.

Pakistan highly appreciates China for its timely support

China is establishing around 50 vocational centers in Pakistan and equipping the youth with technical skills to alleviate the scarcity of education resources in the country.

“China always helps Pakistan in difficult times,” Pakistan Minister for Federal Education and Professional Training Shafqat Mahmood said while addressing the school bags distribution ceremony of “Panda Pack Schools Bags” held at Islamabad Model School for Girls (IMSG).

The ceremony was organized by the Pakistan Red Crescent Society (PRCS) in collaboration with China Foundation for Poverty Alleviation (CFPA) and Federal Directorate of Education (FDE).

Under “Panda Pack Project”, around 20,000 Panda Packs/Schools Bags will be distributed to students in various rural areas of Islamabad Capital Territory.

Shafqat Mahmood said “Pakistan and China have a long history of friendship, but now it is deepening and strengthening with the passage of time. Our economic and social cooperation is improving, and interaction between civil societies of the two countries is growing,” he added, “this is indeed a new era in which already good friendship between the two countries is becoming even stronger.”

Speaking on the occasion, Chinese Ambassador to Pakistan Yao Jing said China was ready to help Pakistan in its ‘Education for All’ project, adding that Chinese companies were willing to channelize more resources for human development in Pakistan.

Abrar ul Haq, chairman of PRCS, said around 61 percent population of Pakistan lives in rural areas, where educational facilities are in scarcity, thus the distribution of school bags among rural students of the federal capital is a highly welcome initiative.

In his speech, PRCS Secretary General Khalid bin Majeed said the PRCS envisages a long and productive partnership with the China Foundation for Poverty Alleviation to keep carrying out such effective and fruitful ventures in the future.

China Foundation for Poverty Alleviation Vice President Wang Xingzui said Panda was a symbol of peace in China, and the Panda Packs for the young kids are a token of best wishes and love for the Pakistani nation, reports Gwadar Pro App.

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