A 15-member CPEC business Council is set to stimulate industrialization

ISLAMABAD: Chairman Board of Investment (BOI) Atif R Bokhari has reconstituted the China Pakistan Economic Corridor (CPEC) Business Council to accelerate the process of industrialisation under the umbrella of the CPEC.

On the advice of the Adviser to Prime Minister for Commerce and Investment, the chairman BOI, being convener of the Joint Working Group (JOP) on Industrial Cooperation, was to reconstitute the following CPEC Business Council to enhance the industrialisation in the country, said a press release issued here on Tuesday.

According to a notification issued here, the following CPEC Business Council was notified as Chairman and member Steering Committee, the Adviser to Prime Minister for Commerce and Investment Abdul Razak Dawood and Minister of State and Chairman BOI, Atif Bukhari and Chairman CPEC Authority, Lt-Gen (R) Asim Saleem Bajwa are the Members of Steering Committee, including 12 members, from different areas of cooperation.

The detailed Terms of Reference (TORs) of the Advisory Group are to be a consultative forum between business community and the government on matters related to private investment under CPEC.

The advisory group will make specific recommendations for the private sector investment in Pakistan under the Industrial Cooperation and to propose feasible projects for investment for discussion with Chinese business companies.

The group will also formulate strategies for expediting ongoing and future Business to Business (B2B) projects under industrial Cooperation to discuss and explore opportunities and develop new investment models for future CPEC projects.

The group advises on developing an integrated approach on the future development of industrial cooperation under the CPEC with special focus on agriculture, industry, housing, tourism and any other potential area or sectors mentioned in the CPEC long-term plan.

The group also advises on any other issue referred to by the concerned ministries.

The Business Council on CPEC is initially formulated for a period of two years from the dated notification and shall automatically stand dissolved on the date of expiry of its terms, unless otherwise further extended through a notification by the competent authority.

The notification hereby supersedes BOI’s earlier notification of even dated March 27, 2019 regarding the composition of CPEC Business Council.

July 1, 202: A 15-member business council to accelerate industrialisation under the China-Pakistan Economic Corridor (CPEC) was re-constituted on Tuesday.

The federal government has notified the name of reconstituted business council, which has three members from public sector, and rest from the business community.