ISLAMABAD, Dec 11 (APP):Pakistan and China will sign an industrial cooperation framework during meeting of Joint Cooperation Committee on China Pakistan Economic Corridor (CPEC) scheduled next week on December 20 at Beijing, China.
The framework agreement would help to move forward with relocation of Chinese industries and large scale investment in Pakistan, Minister for Planning, Development and Reform Makhdoom Khusro Bakhtiar said during a meeting held here Tuesday to review progress on Pak-China Industrial Cooperation.
He said the 8th JCC would be proved as foundation to ensure implementation of this important sector.
Highlighting the importance of Special Economic Zones, he maintained that the industrial parks would be developed aligned with local available resources.
“We will promote such investments that help in import substitution, value addition of the products in order to help balancing Pak China trade,” he added.
The minister stressed on Khyber Pakhtunkhwa government to develop Rashkai only for industrial purposes and discourage real estate business.
He reiterated that government would provide all type of utilities to Rashkai economic zone.
He instructed concerned ministries to ensure provision of utilities including natural gas supply and connecting the zone with national grid to ensure power supply in line with development of this zone.
Minister asked the KP government to make all arrangements for equal participation of local investors in Rashakai zone.
Officials from and Board of Investment, the Prime Minister Office and KP Government briefed the meeting about industrial cooperation and development of Rashkai Economic Zone.
The meeting was attended by Secretary Planning Zafar Hasan, Project Director CPEC Hassan Daud, officials from Board of Investment, Ministry of Energy and Khyber Pakhtunkhwa Government.