Ahsan Iqbal Directs Study Of Successful Regional Export Processing Zones

ISLAMABAD, (UrduPoint / Pakistan Point News - 30th Apr, 2024) Minister for Planning, Development, and Special Initiatives Professor Ahsan Iqbal, chairing the maiden meeting of the Cabinet Committee on Chinese Investment Projects on Tuesday, directed to conduct a research study of export processing zones successfully operating in regional countries.

The Cabinet Committee on Chinese Investment Projects, which comprises nine Federal ministers, would be overseeing the progress of Chinese investment projects, expediting the pace of projects being executed under the China-Pakistan Economic Corridor (CPEC) besides ensuring the security of Chinese citizens.

Emphasized the need for effective measures to ensure the supply of cheap electricity to special economic zones, the minister directed the board of Investment (BOI) to conduct a research- study on the export processing zones operating in Bangladesh, India, Vietnam, Cambodia, and Thailand, a news release said.

Ahsan Iqbal highlighted the importance of increasing Pakistan's exports from $30 billion to $100 billion, noting that the country's national security and sustainable economic development were linked to export growth.

He was of the view that private companies in Pakistan earned billions of rupees annually but their balance sheets did not contribute significantly to national economic development.

He emphasized the need for a national trade, industrial, and business strategy to ensure economic growth and development.

The minister also noted that high-level exchanges and delegations between Pakistan and China provided opportunities to enhance bilateral trade and economic relations.

He expressed confidence that the second phase of CPEC would be a game-changer for economic development through cooperation in trade, industry, and infrastructure.

Ahsan Iqbal stressed the need for Pakistan to determine its own interests and not rely on others' strategies.

He also directed the Ministry of Interior to ensure the security of Chinese workers and officials at all levels, highlighting the importance of using modern technology and means to monitor and control the movement of non-state and anti-national elements, in line with the practices of developed countries.

He cautioned against creating unnecessary difficulties and hurdles for citizens in the name of security, as it could create a negative impression internationally.