ISLAMABAD/RAWALPINDI – Private sector has immense potential to supplement the China Pakistan Economic Corridor (CPEC) projects and stimulate industrialization in the country, said Board of Investment (BoI) Secretary Azher Ali Choudhary on Thursday.
While addressing a session of “All Pakistan Chambers Committee on CPEC” organised by Rawalpindi chamber of commerce and Industry (RCCI), he said, “Private sector’s role will accelerate development to generate employment, scale up practical solutions especially for non-infrastructural development along the CPEC such as healthcare, water and food supplies, education, and housing, and to plug gaps in developmental and financial challenges.”
He further said that Pakistan and China are tied up in strong brotherly relations since the establishment of their diplomatic relations more than half a century ago. The mutual understanding and goodwill has certainly enabled substantial enhancement of bilateral co-operation in all sectors. “Our ultimate objective is achieving socioeconomic stability through sound development policies,” he added.
For Pakistan, the development in trade and industry is the main gain from CPEC as a driving force for economic growth and taking the fruits of CPEC to the lesser developed regions of Pakistan. Industrial cooperation is that component of CPEC, on which the sustainability of whole CPEC project is dependent. The role of private sector is more crucial and important in this phase of CPEC, he added.
Meanwhile, Rawalpindi Chamber of Commerce and Industry (RCCI) President Raja Amer Iqbal has said the business community recognises CPEC as a game changer and urges the government to focus on the 4th part of CPEC plan, which is industrial zones development.
“The government of Pakistan should negotiate with the Chinese government to evolve a policy to have joint ventures between Pakistan and China for long lasting win-win cooperation. The joint ventures between Chinese and Pakistani companies will increase the ownership of the key stakeholders.
“The labour-intensive industry from CPEC shall be relocated to Pakistan to boost the local employment”. Rawalpindi Chamber of Commerce and Industries (RCCI) President Raja Amer Iqbal said while addressing a press conference.
The RCCI president said that the CPEC is the flagship project of multi-billion dollars One belt one road (OBOR) initiative and the success of this key mega project will bring the economic revolution in the country and the region. However, CPEC must not fall to smuggling as we observed in Afghan Transit Trade route. We demand a strong security system to monitor exchange of goods via CPEC route, he added. “We want CPEC smuggling free corridor”, said RCCI President. He demanded that 85 per cent local labour must be used in the CPEC projects. The more we have local ownership in the projects the more it will be successful, he added.