FPCCI launches research report on CPEC

2163

KARACHI, Dec. 28 (APP) : Federation of Pakistan Chambers of Commerce and Industry on Wednesday launched a report showing FPCCI’s stance on China-Pakistan Economic Corridor ; emphasizing that the government should take into confidence private sector of the country on CPEC related developments and decisions.
“ CPEC is basically domain of private sector, not that of government. Private sector should be the main player,” said FPCCI’s President Abdul Rauf Alam on the occasion while speaking to members of this apex trade body in Karachi and Lahore through video link from FPCCI Capital Office in Islamabad.
President FPCCI said FPCCI recommendations on CPEC were aimed at ensuring fast and sustained economic growth and development of the country under CPEC; not to create any hinderance to this very important programme.
At the Federation House, the prominent business leaders were United Business Group’s (UBG) presidential candidate in FPCCI elections for 2017 Zubair F. Tufail, former Senator Abdul Haseeb Khan, former vice president FPCCI Mazhar Ali, Director General Research and Development department of FPCCI Dr. Ayub Mehar.
This report has been compiled by FPCCI’s CPEC committee in coordination with FPCCI’s R and D department.
FPCCI was concerned about the protection of the local industry , which would have to compete Chinese products to be directly supplied to Pakistani market or to be produced in industrialists units at Special Economic Zones (SEZs) enjoying better facilities and many incentives including tax holiday against the existing ones facing various problems mainly the high cost of doing business.
“ Existing industries be placed at par with those at SEZs,” he asserted.
He called for handing over the administration of SEZs to renowned private sector people through main trade bodies of the country as they would be giving better results along with promoting sense of ownership among local business community in CPEC related projects.
He said FPCCI had already submitted its research reports /study papers on different issues of national importance like shadow budgets for the Federal and provincial governments, and vision Pakistan which got due recognition from the government.
He emphasized that the government should be very careful in moving on CPEC to avoid the situation emerged from signing Free Trade Agreement (FTA) with China.
“ Balance of trade has gone in favour of China after FTA,” he maintained adding that the revised FTA with China be signed at the earliest.
FPCCI President said the business community’s main concern about CPEC was transparency in CPEC projects.
Director General of R and D department of FPCCI Dr. Ayub Mehar gave presentation on about this report on CPEC.
FPCCI President advised business community to give their feedback/suggestions after reading this report comprehensively so that this apex trade body could better guide the government and guard the interests of the business community and the country.
Soon, he continued, another session would be held at Federation House to discuss CPEC related issues.