PM Shehbaz vows to remove all hurdles in way of establishing SEZs

By: News Desk
Published: 03:43 PM, 15 Jun, 2022
PM Shehbaz vows to remove all hurdles in way of establishing SEZs
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Prime Minister Shehbaz Sharif on Wednesday said the government was committed to completing Special Economic Zones (SEZs) at the earliest to ensure development and prosperity in the country with focus to create these zones in the smaller provinces, reported 24NewsHD TV channel.

During his visit to Rashakai Special Economic Zone, Shehbaz Sharif said all problems and hurdles in the smooth execution of SEZs would be addressed on a priority basis. He said focusing on establishing SEZs across the country would boost industrialization, and exports and generate employment.

He said the solution to Pakistan’s economic problems was massive industrialization and diversifying the export base.

He said massive economic activity in the country would create employment, encourage exports and stimulate import substitution.

The prime minister said nine SEZs had been planned to be developed in Pakistan aimed at promoting industrial infrastructural and technology transfer.

He said China had switched to high-tech industrial projects and invited the Chinese companies to invest in Pakistan.

He said the Chinese expertise in technology and the cheap labour of Pakistan could act in a balance to benefit both sides.

The prime minister proposed the launch of roadshows in China to highlight Pakistan’s potential for trade and investment.

He emphasized on sharing of expertise between the two countries and the need to further augment development by exploring areas in Khyber Pukhtunkhwa and other parts of Pakistan.

He directed the authorities to follow the timelines of the projects related to SEZs and announced holding a virtual meeting in the future to sort out ways for improvement.

PM Sharif said with the China Pakistan Economic corridor entering the most crucial second phase of implementation, it was important to focus on the establishment of SEZs to make them the model of development.

Joint ventures to create win-win situation: PM

Prime Minister Muhammad Shehbaz Sharif says the joint venture of Chinese industry and technology with Pakistan’s labour and investment will create a win-win situation for both countries by boosting their production and exports.

In an interview with representatives of Chinese media, he said the two countries are moving toward the second phase of China-Pakistan Economic Corridor, comprising regional cooperation and industrialization through establishing the industrial zones.

The Prime Minister said in form of CPEC, Pakistan has been the first beneficiary of the Belt and Road Initiative of President Xi Jinping.

Replying to a question, he said the CPEC projects faced some hiccups during last three to four years but the incumbent government is resolved to take it to “Pakistan Speed” to fill the gap.

To another question, Shehbaz Sharif said the enemies cannot digest the close China-Pakistan ties but reiterated his government’s resolve to ensure security of the Chinese nationals in Pakistan.