CPEC parliamentary committee for greater focus on socio-economic projects

The Parliamentary Committee on China-Pakistan Economic Corridor (CPEC) met here to discuss various matters of the mega project including China Pakistan Free Trade Agreement (CPFTA) Phase-II and Afghan Pakistan Preferential Trade Agreement (APPTA) agreement.

The committee also deliberated upon the issues pertaining to Special Economic Zones (SEZs) Act, Rules and proposed regulations for Zone Enterprise Admission and sale of plots and Foreign Direct Investment (FDI), local investment and Pakistan’s regional competitiveness in terms of Industrial Trade and Investment.

The meeting that was held here under the chairmanship of Sher Ali Arbab noted that there is a greater need to pursue holistic and pragmatic approach for the inclusion of projects relating to socio-economic development under CPEC framework so that rest of money left out of 1 billion dollar grant could effectively and efficiently be utilized on priority areas and in less developed regions to bring them into mainstream and ensure shared economic progress and prosperity.

The Chairman said that the world is increasingly moving towards complex interdependence. Economy and trade should be our strategic instruments in these modern times.

He further observed that at the heart of CPEC is trade and commerce and Pakistan’s economy will not flourish unless we increase our trade volume with other countries of the world especially with China with whom CPEC engagement is also moving forward.