ISLAMABAD – The federal government has announced exemptions for Chinese investors interested in launching any project in special economic zones under the China-Pakistan Economic Corridor (CPEC) project.
Prime Minister Khan’s aide on CPEC Khalid Mansoor made the announcement days after the premier visited China in a bid to attract foreign investment and boost bilateral cooperation.
Mansoor said that Chinese firms will be facilitated with compliance regime and they will no need to take NOCs (no-objection certificates) from 37 different public departments before launching any project in SEZs.
“The CPEC Authority provides one-window facility to the Chinese investors. If their issues still remain unresolved, then the PM House is there to address the issues,” the aide was quoted as saying by the state-run media.
CPEC is the major part of the China’s Belt and Road Initiative (BRI) that aims at building land and sea routes in Asian and beyond to promote trade activities.
Mansoor said PM Khan during meeting with Chinese companies assured them of full cooperation of his government in their ventures.
The prime minister also highlighted investment opportunities in textile, pharmaceutical, footwear, information technology, cottage industry and agriculture sectors in Pakistan, he added.
“During the Phase-I of CPEC, out of $53 billion, investments of $25 billion were materialize whereas [those of] $28 billion were under consideration,” the PM’s aide was quoted as saying.
Under the Phase-2, Chinese companies would help establish a steel and metal recycling plant in Gwadar within three years.
