Pakistan Furniture Council (PFC) Chief Executive Officer Mian Kashif Ashfaq on Sunday urged the government to introduce Shenzhen-style reforms, expedite the establishment of Special Economic Zones (SEZs), and simplify investment procedures to fully harness the potential of the China-Pakistan Economic Corridor (CPEC).
CPEC’s second phase offers opportunities for industrial, agricultural cooperation: PFC CEO
LAHORE, Oct 11 (APP):Pakistan Furniture Council (PFC) Chief Executive Officer Mian Kashif Ashfaq on Sunday urged the government to introduce Shenzhen-style reforms, expedite the establishment of Special Economic Zones (SEZs), and simplify investment procedures to fully harness the potential of the China-Pakistan Economic Corridor (CPEC).
Chairing a meeting of the council’s Board of Directors here, he stated that CPEC had profoundly transformed economic cooperation and presented exceptional opportunities to revive Pakistan’s economy and steer the country toward sustainable growth.
He noted that while the successful execution of CPEC’s first phase proved its viability, the ongoing second phase focuses on industrial, agricultural, technological, and scientific cooperation, which is crucial for modernizing Pakistan’s economic landscape.
Mian Kashif Ashfaq emphasized that setting up SEZs must be accelerated to drive rapid industrialization, attract robust investment, and generate massive employment opportunities. These steps, he added, would stimulate economic activity, reduce the burden of mounting public debt, and create hundreds of thousands of jobs to tackle youth unemployment and poverty.
Highlighting the remarkable development model of Shenzhen, the PFC chief pointed out that the Chinese city pioneered innovative practices, including streamlined approval mechanisms that ensure administrative decisions within 24 hours. Its one-window operation model successfully brought diverse services under one roof, greatly improving the overall investment climate. He noted that Shenzhen also introduced contractual employment experiments and provided investors with reliable utilities, tax facilitation, and world-class import-export infrastructure.
Mian Kashif Ashfaq concluded that Pakistan must adopt the Shenzhen model in letter and spirit to simplify doing business, attract foreign capital, and maximize the multifaceted economic dividends of CPEC.
