SEZ’s in CPEC are vital for development in Pakistan

The next phase of China-Pakistan Economic Corridor (CPEC) is the construction of “Special Economic Zones (SEZs)” according to Chinese ambassador Yao Jing. Speaking at a seminar on ‘Role of Parliaments in Cementing Regional Integration,’ he said China would now invest in building vocational and training centers as well as research in agriculture and livestock sectors. Most of the CPEC projects are investment of Chinese companies and these are not loaning to the Pakistan government. CPEC was launched because of the friendship between Pakistan and Chin and it will succeed in eradicating poverty among people in the next year. Jing included that China wants prosperity in Pakistan though CPEC which is a joint venture of both the countries and CPEC cannot be judged at this stage as it is a long-term mega project. China is effectively playing its due role in the multibillion dollars CPEC project and Pakistan should also make similar efforts to make it a reality. Chinese private companies are playing significant role in making investments in Pakistan. As many as 11 Chinese companies are active in Gwadar and others areas of Pakistan for development and we are paying attention to the development in social sector, vocational training, health and education sectors, added ambassador.

Speaker National Assembly Asad Qaiser said that regional integration and connectivity of states in the region is imperative for tapping the immense economic potential. Benefits of the CPEC could only be harvested with integration of the Central Asia with South Asia. The modern global and regional politics revolves around geo-economics and in this context, CPEC, a flagship project of Belt and Road Initiative is presenting revolutionary opportunities for regional countries to build strong economic, trade and commercial ties. Besides being a neighbor of China, and linking landlocked Central Asian States with the rest of the world through CPEC, Pakistan is geographically located at the interface of south and central Asia and the Middle East. The Central Asian countries are already connected by a deep historical and cultural affinity, geographical proximity, and a convergence of strategic and economic interests. The Speaker was confident that job creation and addressing energy deficit are early benefits of the CPEC. Minister for Planning, Development and Reforms Asad Umar said that there is a need of intra-regional trade for economic development and prosperity of people in the region. CPEC will be beneficial for both the countries and Pakistan did not hide anything from the world, adding Pakistan has obtained $ 4.9 billion loan under CPEC for infrastructure projects.