Zubair Qureshi Islamabad
Pakistan and China on Friday have agreed to intensify efforts to establish a Working Group on five new economic corridors under the phase 2 of the CPEC, aligning with the 5Es framework already prepared by the Planning Ministry.
This was discussed during a meeting between the Federal Minister of Planning, Development & Special Initiatives, Prof Ahsan Iqbal and the Ambassador of China, Jiang Zaidong. The meeting lasted for over an hour at the Planning Ministry.
Chinese Ambassador Jiang Zaidong congratulated Ahsan Iqbal on assuming the office of Planning Minister for the fourth time. Both sides also agreed to expedite phase 2 of the CPEC, while deciding to establish a working group on five new economic corridors, including the Corridor of Job Creation, Corridor of Innovation, Corridor of Green Energy, and Inclusive Regional Development. Both the Planning Ministry and the National Development and Reform Commission (NDRC) of China will prepare separate concept papers on the new economic corridors, which will provide a clear roadmap for each sector in the future. These concept papers will be consolidated before presentation at the upcoming Joint Coordination Committee (JCC) meeting expected in 2024, stated the Planning Ministry.
The Planning Ministry has already initiated the implementation of the 5Es framework, which includes Export, Energy, Equity, E-Pakistan, and Environment. This framework will be aligned with the five new economic corridors to advance Pakistan’s prosperity in each sector under the vision of Prime Minister Shahbaz Sharif, emphasized the Minister, highlighting the importance of accelerating Pakistan’s export capabilities through enterprise development and job creation.
During the meeting, the Planning Minister outlined a strategic approach to maximize the success of Special Economic Zones (SEZs) within Pakistan. He proposed a “one plus Four” model, wherein each SEZ in Pakistan would be partnered with one province from China, one industry group to develop specialized clusters within the SEZs, one SEZ from China to provide technical expertise, and a state-owned enterprise to spearhead SEZ development.
Ahsan Iqbal also emphasized collaborative frameworks that would expedite the establishment and growth of SEZs in Pakistan, enhancing their competitiveness and attractiveness to investors.
The Chinese envoy appreciated Pakistan’s efforts to implement the CPEC, particularly the initiation of phase 2.
Addressing Pakistan’s need to boost the efficiency of SEZs to increase foreign exchange, the Chinese envoy suggested that officers in charge of SEZs must visit Chinese industrial parks to observe firsthand the efficiency measures practiced by Chinese authorities. The Ambassador further highlighted Pakistan’s commendable transition from an agricultural to an industrial economy.
The minister appreciated Chinese assistance in helping Pakistan develop its exports. He stated that Pakistan’s current challenge is to determine how quickly it can build its exports through earned foreign exchange, not borrowed money.
He also assured the ambassador that security was a prerequisite for development and Pakistan acknowledges the full recognition of CPEC construction and security risks. However, these risks will not disrupt work on CPEC projects. Pakistan has made significant efforts to safeguard the security of Chinese workers and will further implement top-level security measures for Chinese personnel.
