As CPEC enters third phase, it will enhance industrial growth: Sher Ali Arbab

LAHORE: National Assembly Parliamentary Committee for China-Pakistan Economic Corridor Chairman Sher Ali Arbab has said CPEC entered the third phase and it is necessary to move forward for speedy industrial and economic growth as Pak-China economic cooperation is in the interest of both nations.

Addressing a seminar held here on Thursday on the topic of the role of parliament in industrial and economic development under CPEC, he said the CPEC laid the foundation of great industrial and economic development as Pakistan would emerge as a global economic power after completion of CPEC.

The seminar was arranged with the collaboration of Punjab Board of Investment, National Assembly Secretariat, Planning and Development Board and Friedrish Ebert Stiftung Pakistan. It was attended by the acting consul general of China, provincial ministers, members of parliament and investors from both countries.

Sher Ali Arbab said that the seminar would be having positive results. Such seminars and conferences are also being held in other provinces. Islamabad would also host a national conference in this regard, he said. He said Punjab was the largest province of Pakistan having great investment opportunities.

The cooperation between Punjab and the federal government would be enhanced for exploring more investment opportunities as CPEC was a game-changer for Pakistan.

Finance Minister Makhdoom Hashim Jawan Bakht said special economic zones in Allama Iqbal Industrial City Faisalabad was the Chinese investment under China-Pakistan Economic Corridor and the best facilities were being provided to the local and foreign investors as red-tape hurdles had also been removed.

Chinese Ambassador in Pakistan Nong Rong addressing the seminar through video link said Pakistan-China friendship spread over decades and economic cooperation was increasing with every passing movement. He said numerous infrastructure projects had also been completed under CPEC in Punjab relating to industries, transport and energy sector.

Later, a dialogue was held relating to agriculture, industry and other sectors. The experts gave their proposals reiterating to enhance cooperation in the technology sector and initiating joint ventures with Chinese companies.