Tuesday, November 28, 2023

CPEC is going to start another Model Economic Zone in Pakistan

CPEC (China-Pakistan Economic Corridor) is going to start another Model Economic Zone in Pakistan to maintain the interests of Pakistani and Chinese foreign investors, said Punjab Finance Minister Makhdoom Hashim Jawan Bakht, as he chaired a meeting on CPEC projects on the Board of development.

Furthermore, He said that in the second phase of CPEC, they will give priority to agriculture and fertilization projects.

He also instructed to give technical training to local labor according to the need of the hour, emphasizing that it must be in line with the demand of Chinese partner companies so that more jobs are generated.

The minister also instructed that they will use the services of the institutions of the Technical Education and Vocational Training Authority (TEVTA) for the training of local human resources.

He said that “instead of relying on Chinese investment in technical training, Pakistan should train its workforce“.

He suggested using TEVTA institutions affiliated with NEVTAC, which would also increase TEVTA’s capacity.

The president of the CPEC Authority, Asim Saleem Bajwa, also present at the occasion, informed that Chinese companies are ready to invest in economic zones and the agricultural sector through a government partnership.

He also agreed with the minister’s statement that it was necessary to introduce business models according to the needs of investors in industrial areas in Pakistan to increase the interest of Chinese investors.

Furthermore, He informed that livestock and fertilization projects will also be included in the second phase of CPEC.

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