Planning Minister Chairs Meeting of Cabinet Committee on Chinese Investment Projects

Federal Minister for Planning Ahsan Iqbal held a meeting of the first Cabinet Committee on Chinese Investment Projects (CCoCIP).

The meeting was attended by Minister of Science and Technology Khalid Maqbool Siddiqui, Secretary Planning Awais Manzoor Sumra, and senior officials from various Federal Ministries.

The meeting deliberated on the overdue issues concerning the China-Pakistan Economic Corridor (CPEC) Independent Power Producers (IPPs), which pose a significant impediment to the financial closure of key projects. The planning minister instructed the IPPs to submit the amounts due to them in the context of CPEC energy projects as soon as possible.

He emphasized the importance of providing electricity to SEZs at an incentivized cost while ensuring the government does not incur losses. He directed the involvement of the Board of Directors to expedite the resolution of SEZ-related issues. A directive was issued to conduct a comparative study on the incentives offered to SEZs in regional countries to ascertain how Pakistan’s SEZs and Export Processing Groups can be made more attractive.

The planning minister instructed the Board of Investment (BOI) and Ministry of Commerce to explore the creation of export processing zones to attract industries from China to Pakistan, identifying potential products for relocation.

The Ministry of Industry, Ministry of Commerce, Ministry of IT, Ministry of Petroleum, and Ministry of Manpower were tasked with preparing a Request for Proposal (RFP) outlining measures to boost Pakistan’s exports from $30 billion to $100 billion within the next seven years.

The focus was on developing a strategy to achieve an export surplus to meet both local and international demands. Strategies to ensure the security of Chinese nationals in Pakistan were also discussed, emphasizing the need for community awareness regarding their contributions to Pakistan’s development. The Planning Minister emphasized that security measures should instill confidence rather than fear.

The meeting also discussed preparatory measures, including potential discussions at the Joint Cooperation Committee (JCC) to finalize outcomes prior to the Prime Minister’s forthcoming visit to China. Planning Minister Ahsan Iqbal directed line ministries to expedite the meetings of Joint Working Groups (JWGs) and finalize projects for presentation at the upcoming JCC meeting.

Iqbal concluded the meeting by emphasizing the need for a national agenda to identify Pakistan’s priorities in collaboration with China, ensuring fruitful discussions at the upcoming 13th JCC.