Industrial phase of CPEC to start soon

Hasan Dawood, the acting project director of China-Pakistan Economic Corridor (CPEC), has said that the industrial phase of this project under which Chinese investors would be allowed to set up only high tech industries would kick-off soon and added that it would not have any negative impact on Islamabad's existing industry.

Dawood, who was speaking to a delegation of the Faisalabad Chamber of Commerce and Industry (FCCI) here, said there are three major perspectives of CPEC including geo strategic, regional integration and industrial cooperation.

He said the Chinese investors prefer to concentrate on Gwadar Port as they cannot afford to clash at any stage with Pakistani industrialists, reports The Express Tribune.

FCCI vice-president Ahmed Hasan, who headed the delegation, informed the acting project director of CPEC about the reservations of local industrialists.

Dawood informed that three routes, which have been proposed to link China with Gwadar Port, are expected to be completed by 2018.

The acting project director of CPEC said that working groups are being established to determine the needs of both countries.

He said that representation of all provinces would be there in working groups and asked FCCI to present its proposal for discussion in the working group.

Dawood said that four meetings have already been held between National Development and Reforms Commission of China and Planning Commission of Pakistan.

He said that thousands of jobs would be created by establishing 36 economic zones under CPEC which will also gear up the pace of progress and prosperity.