Skip to main content

CPEC toll income to be thrice the budget of Pakistan: BoI

https://www.thenews.com.pk/print/234547-CPEC-toll-income-to-be-thrice-the-budget-of-Pakistan-BoI


Jawwad Rizvi

October 5, 2017


LAHORE: Only the toll income generated by the route of China-Pakistan Economic Corridor (CPEC), after the completion of the project by 2030, will be three times of the national budget of Pakistan, an official said on Wednesday. 

“It is on top of the business, economic, and employment creating activities of special economic zones (SEZs), and other industries,” Zulfiqar Ali, director Board of Investment (BoI) said while briefing Lahore Economic Journalist Association (LEJA) a local venue. 

“The national investment agency is targeting to increase the foreign direct investment (FDI) to $250 billion for infrastructure development and other industrial activities by 2025, including joint industrial cooperation between Pakistan and China.” 

Ali said that Pakistan had already started development of seven SEZs with Chinese cooperation out of which three each were being established in Sindh and Punjab and one in Khyber Pakhtunkhwa (KP). 

“Furthermore, nine more Priority SEZs have also ben approved for Rashakai KP, Dhabeji Thatta, Boston Economic Zones Balochistan, Allama Iqbal SEZ, Faisalabad, Maqpoondas Northern Are3as, Islamabad Capital Territory Model SEZ, Federal Government Industrial Park on Pakistan Steel land at Port Qasim, Mirpur Industrial Zone and Mohmand Marble City, Federally Administered Tribal Areas,” he said. 

The BoI chief said CPEC is the second chance for the industrial and economic development of Pakistan after 1960s industrialisation drive. “The CPEC is as important for China as it is for Pakistan,” he saoid. 

Ali added that through CPEC and Gwadar deep sea port, the distance between the Jaboti deep sea port of Africa will reduce to only 5 days. “That is the gateway to reach African markets for China that is heavily invested there,” he observed.

Moving ahead, he said the government’s recent efforts have resulted in a gradual increase in FDI. “The FDI in FY15 was only U$900 million, which increased to $2.3 billion in FY16 and further rose to $2.4 billion in FY17,” he said adding it was encouraging as the steps taken by the government were paying off in shape of FDI.

He told the journalists that as an outcome of government’s negotiation with the Chinese, early harvesting projects of energy sector had already started adding into the national grid. “It is expected that there will be no power outages in 2018 and by 2020 maximum energy will be added into the national grid by 2020,” Ali said. 

Replying to a question, the BOI director dispelled the impression that the government was favouring Chinese investors by giving them special concessions. “For the BoI and the government of Pakistan, every foreign investor is equal. Besides, same level of returns on investment is available to the local ones,” he added

Comments

Popular posts from this blog

Balochistan to establish first medical university

https://www.dawn.com/news/1366135

The Newspaper's Staff CorrespondentOctober 25, 2017QUETTA: The provincial cabinet on Tuesday approved the draft for establishing a medical university in Balochistan.Health minister Mir Rehmat Saleh Baloch made the announcement while speaking at a press conference after a cabinet meeting.“The cabinet has approved the draft of the medical university which would be presented in the current session of the Balochistan Assembly,” he said, adding with the assembly’s approval the Bolan Medical College would be converted into a medical university.Published in Dawn, October 25th, 2017

5 Shia Hazara community members gunned down in Pakistan

http://m.hindustantimes.com/world-news/5-shia-hazara-community-members-gunned-down-in-pakistan/story-CHWR4lYByRHzf2KjHjMloI.html



Five members of the minority Shia Hazara community, including two women, were killed on Sunday in an attack by unidentified gunmen in Pakistan’s restive Balochistan province.This is not the first time that members of the Hazara community have been targeted in Quetta and other parts of Balochistan.(Reuters File Photo)Updated: Sep 11, 2017 00:20 ISTBy Press Trust of India, Press Trust of India, KarachiFive members of the minority Shia Hazara community, including two women, were killed on Sunday in an attack by unidentified gunmen in Pakistan’s restive Balochistan province.The gunmen targeted a car in Kuchluck area of Quetta while it was coming from the Chaman border crossing area, police said.The firing took place when the travellers had stopped at a filling station to refuel their vehicle. Five people of the Shia Hazara community, including two women, died in …

China’s 'Digital Silk Road': Pitfalls Among High Hopes

https://thediplomat.com/2017/11/chinas-digital-silk-road-pitfalls-among-high-hopes/


Will information and communication technologies help China realize its Digital Silk Road?By Wenyuan WuNovember 03, 2017In his speech at the opening ceremony of China’s 19th Party Congress, President Xi Jinping depicted China as a model of scientific and harmonious development for developing nations. Xi’s China wants to engage the world through commerce but also through environmental protection and technological advancement. This includes Beijing’s efforts to fight climate change with information and communication technologies (ICTs) that it plans to export along its “One Belt One Road” initiative (OBOR). Xi may have ambitious plans, but could China be throwing up obstacles in its own way?In his speech, the Chinese president emphasized the need to modernize the country’s environmental protections. The Chinese state is taking an “ecological civilization” approach to development and diplomacy, with a natio…