Skip to main content

Pakistani PM inaugurates special economic zone under CPEC

Source: Xinhua| 2020-01-03 22:43:41|

ISLAMABAD, Jan. 3 (Xinhua) -- Pakistani Prime Minister Imran Khan inaugurated the Allama Iqbal Industrial City, a special economic zone (SEZ) under the China-Pakistan Economic Corridor (CPEC) in the east Faisalabad city on Friday, the prime minister's office said.

Addressing the groundbreaking ceremony of the SEZ, the prime minister termed CPEC as a golden opportunity for industrial development of Pakistan and the SEZ the first step towards the prosperous future of his country.

China is Pakistan's close friend, and it is developing with leaps and bounds in every field, he said, adding that Pakistan has a great opportunity to make progress by learning from China, and diversifying CPEC by developing industrial and agricultural sectors to boost economic cooperation with China.

"Many Chinese industrialists want to invest in Pakistan. I met many Chinese businessmen during my visit to China last year and they showed keen interest in investing here provided we give them suitable environment. This SEZ will provide that environment to them and give them confidence to relocate their industries in Pakistan."

Lauding Chinese investors, Khan said that they will not only invest in Pakistan, but also transfer technology to the country by relocating their industries which will help Pakistani people get trained in using modern technology.

Talking about the rising number of unemployed youth in his country, the prime minister said that the industrialization process in the country will also open employment opportunities for the youth.

"Pakistan needs to have intensive industrialization to increase its exports for wealth creation. The unemployment problem cannot be solved only by the country's agro-based economy. We need industries to shoulder this responsibility."

Citing China's example to bring out a large number of people from poverty through wealth creation, Khan said his country also wants to follow the same model, and Pakistani officials had several briefings by Chinese on poverty alleviation, during their visit to China.

"We want to do exactly what China did. We want to create wealth by increasing our exports and spending the generated revenues on the poor strata of the society."

According to the ruling party Pakistan Tehreek-e-Insaf's official Twitter account, the Allama Iqbal Industrial City is likely to have investment of 400 billion Pakistani rupees (about 2.58 bln U.S. dollars), and create 300,000 direct and 1 million indirect employments.

The SEZ is likely to have more than 557 industries in various sectors including integrated textile, food processing, construction material, pharmaceutical, automobiles, and steel. So far committed investment in the SEZ amounts to more than 1 billion U.S. dollars including 204 million U.S. dollars local investment, the ruling party stated.

The SEZ is one of the nine SEZs planned to be built under CPEC across Pakistan. The SEZs are quoted as lifelines of Pakistan's industrial development by Pakistani officials as they are likely to create over 2 million employments across the country, besides enhancing exports and uplifting several potential sectors of the country.


Popular posts from this blog

SSG Commando Muddassir Iqbal of Pakistan Army

“ Commando Muddassir Iqbal was part of the team who conducted Army Public School operation on 16 December 2014. In this video he reveals that he along with other commandos was ordered to kill the innocent children inside school, when asked why should they kill children after killing all the terrorist he was told that it would be a chance to defame Taliban and get nation on the side. He and all other commandos killed children and later Taliban was blamed.
Muddassir Iqbal has deserted the military and now he is  with mujahedeen somewhere in AF PAK border area”
For authenticity of  this tape journalists can easy reach to his home town to interview his family members or   ISPR as he reveals his army service number”
Asalam o Alaikum: My name is Muddassir Iqbal. My father’s name is Naimat Ali. I belong to Sialkot divison (Punjab province), my village is Shamsher Poor and district, tehsil and post office  Narowal. Unfortunately I was working in Pakistan army. I feel embarrassed to tell you …

China's Raise as a Maritime Power

China's Rise as a Maritime PowerOcean Policy from Mao Zedong to Xi JinpingTAKEDA Jun’ichiSenkaku IslandsApr 23, 2014 PDF Download1. IntroductionThe international community has been viewing China's recent moves relating to the seas as representing "maritime expansion," and the Chinese themselves have come to talk about making their country a maritime power. In the political report he delivered in the autumn of 2012 to the eighteenth National Congress of the Communist Party of China, which stands at the top of the country's power structure, General Secretary Hu Jintao declared, "We should enhance our capacity for exploiting marine resources, develop the marine economy, protect the marine ecological environment, resolutely safeguard China's maritime rights and interests, and build China into a maritime power."1 This was Hu's final report as the top leader of the CPC; after delivering it he stepped down from his posts as general secretary and chairm…

Guardians of the Belt and Road

Guardians of the Belt and RoadThe internationalization of China's private security companiesby Helena Legarda and Meia NouwensFollowing the build-up of infrastructure and investment projects along China’s extensive Belt and Road Initiative (BRI), private security companies from China are also increasingly going global – to protect Chinese assets and the growing number of Chinese nationals living and working in countries along the BRI, in sometimes unstable regions. Out of the 5,000 registered Chinese private security companies, 20 provide international services, employing 3,200 security personnel in countries like Iraq, Sudan and Pakistan.The impact of this newly developing Chinese activity abroad is analyzed in this MERICS China Monitor. Chinese private security companies’ international activities pose a challenge to European interests as they are often largely unregulated and their security staff are often inexperienced in dealing with serious conflict situations and combat. EU …