China wants to relocate its industries
ZAHEER ABBASI
ISLAMABAD: Federal Minister for Planning and Development Ahsan Iqbal has said that China wants to relocate some of its industries to Pakistan.
Addressing a news conference along with Information and Broadcasting Minister Pervez Rashid, Ahsan Iqbal said that the government was identifying industrial clusters for relocating of Chinese industries. The Minister further added that out of the total $45 billion worth projects agreed under China Pakistan Economic Corridors (CEPC), $28 billion projects were ready and would be rolled out during Chinese President’s visit. Pakistan-China relations would touch a new high with the implementation of CPEC which would be win-win situation for both the countries. The completion of the projects would enable China to get access to Gwadar for development of its part, which will also increase the significance of Pakistan in the region, besides economic development in the country.
The Minister maintained that all the political parties have assured their full support to Pakistan China Economic Corridor during the All Parties Conference (APC) and dispelled the impression of any change in the route of the corridor.
The minister said that all the three routes would be connected to Gwadar for its connection to different markets. The Minister said that five projects would be inaugurated during the visit of Chinese President and agreements on financial closure of the remaining projects would also be signed.
The Minister said that the CPEC was envisaged on four pillars. Of the total $45 billion projects, $37 billion energy projects is investment and $11 billion infrastructure projects are concessional loans with repayment period of 15 to 20 years and mark up would be provided by the Chinese government in the form of subsidy.
The Minister said that China was helping Pakistan to overcome the energy crisis and a total 16400 MW power generation projects were being executed.
As many as 10400 MW projects have been selected as early harvest projects and would be completed by 2018. He said these projects would include power generation through coal, hydel, solar and wind and would be set up in all the four provinces and Azad Kashmir. He said that 10 coal projects would be started in Thar to generate 6600 MW of electricity. The CPEC also include projects for up-gradation of electricity transmission lines.
Second pillar of the economic corridor is up-gradation of Gwadar Port for which 14 kilometer expressway and airport will be built in the area. Third area of the economic corridor is construction of different highways and expressways. He said the focus will be on the Karakoram Highway while Khunjrab Dry port road will also be upgraded and it would be completed in two phases while the first phase will be completed in three years
The Minister said that fourth pillar of the project include establishment of special economic zones which will be setup in all parts of the country and the first zone would be set up in Gwadar. China Pakistan Working Group would identify the site to set up special economic zones and all the areas would be provided opportunities.
Ahsan Iqbal said that all countries had achieved economic development by attracting foreign direct investment and Pakistan needs political stability and continuity of policies to increase the FDI from current $1 billion to $40 to $45 billion per annum. He said that the government is trying to eliminate all the fault lines to make the environment conducive for FDI. He said that Balochistan province and its people would benefit maximum from the completion of the CPEC.
He added that the Prime Minister would gift the Kachi canal project to the people of Balochistan for irrigation of one lakh acres of land in the province.
