(MENAFN- Wadsam) Pakistan will start reaping the benefits of the second phase
of the China-Pakistan Economic Corridor (CPEC) in the form of industrial and
agricultural development and a better road connectivity, Chairman of Pakistan's
CPEC Authority Asim Saleem Bajwa said.
Several roads under CPEC are in their final phase which are
expected to be inaugurated in 2021 and after their completion, locals will
experience a better connectivity, and business opportunities in the country
will increase, Bajwa said while talking to media on Tuesday night.
Talking about the special economic zones (SEZs) being
established under the framework of CPEC, the official said that they are
receiving many applications from local and foreign enterprises to invest in the
SEZs where the government is providing a one-window operation to facilitate the
investors.
In Allama Iqbal SEZ of Punjab province's Faisalabad city,
investors from Canada, Britain and Germany have applied to set up industry in
the form of joint ventures with local partners in the SEZ. "Apart from
them, Pakistani-American doctors along with some U.S. doctors have approached
to establish a pharmaceutical sector in the SEZ," Bajwa said.
He added that efficient and corporate farming are going to
be introduced for the first time in the country in cooperation with China under
CPEC.
"Model farms are going to be started on vast areas of
land under CPEC from the next crop, and a 25-percent enhancement in local
yields is expected under the guidance of Chinese experts on the farms," he
said.
Earlier on Tuesday, addressing a ceremony at Karachi Chamber
of Commerce and Industry, Bajwa said that the second phase of CPEC will
contribute to poverty alleviation and GDP growth in Pakistan.
Launched in 2013, CPEC is a corridor linking the Gwadar port
in southwest Pakistan with Kashgar in northwest China's Xinjiang Uyghur
Autonomous Region, which highlights energy, transport and industrial
cooperation.
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