Parliamentary body for timely establishment of SEZs to get full benefit from CPEC

Islamabad 25 August 2021(Online): The meeting of the Parliamentary Committee on China-Pakistan Economic Corridor (CPEC) observed that the establishment of Special Economic Zones (SEZs) would be futile, if industries are not installed there timely.
The Committee highlighted that quarters concerned should incentivize industries in SEZs in such a way that SEZs established in Pakistan could compete with other countries in the region.
The 37th meeting of the Parliamentary Committee was held at Parliament House under the Chairmanship of MNA Sher Ali Arbab.
The Committee was briefed by senior representatives of various departments.
Security measures for projects under CPEC framework, Mainline-1 (ML-1) project with special focus on ET component and updated progress on special economic zones.
The issues pertaining to sale and cancellation of plots in SEZs needs to be resolved at the earliest so that the process of establishing industries in SEZs could be expedited. The Committee emphasized on the need to move towards ease of doing business so as to attract massive local and foreign direct investment in Pakistan.
The Committee highlighted that quarters concerned should incentivize industries in SEZs in such a way that SEZs established in Pakistan could compete with other countries in the region.
Moreover, apart from focusing on agriculture and industrial sector, the untapped potential in tourism should also be exploited.
A lot of revenue and employment opportunities can be generated by establishing integrated tourism zones in the country under CPEC framework.
While receiving the briefing on security measures for projects under CPEC framework, the committee maintained that security measures affect businesses. The goals envisaged under CPEC cannot be achieved without local ownership therefore issues faced by locals in terms of security arrangements should be resolved at the earliest so that local ownership of CPEC projects could be secured.
While passing through security check-posts locals as well tourists should be dealt with politeness and their self-respect should be maintained.
The Committee remarked that the world is increasingly moving towards adoption of modern technologies. Adding Electric Traction (E.T) component in Mainline-1 (ML-1) project after 8 to 10 years would become obsolete and costly.
Given the huge benefit of E.T component in ML-1 in terms of its pay back, cost and compatibility with environment, we need to move towards its adoption right from now and upgrade existing infrastructure of project to the electric traction.