ISLAMABAD: Minister for Planning and Development Chaudhry Ahsan Iqbal on Friday said no special incentives would be given to foreign industries for operations in Pakistan against interest of local industrialists.
Speaking on an adjournment motion in the Senate, the minister said, a working group has been constituted with regards of setting up of economic zones along the China Pakistan Economic Corridor and rules are being framed.
By the time no special incentives have been given to any foreign industry for business that may effect the local industry and national economy, he said in response to motion moved by Senator Ateeq Sheikh.
The Senator has raised the point that some specific incentives were on way for Chinese firms that may effect the interests of the local industrialists.
The minister said, by now no final decision has been made and any decision even in future would ensure that a level playing field is ensured for both the foreign and the local industrialists.
Therefore, the adjournment motion is pre-mature.
The minister said it is imperative to attract maximum foreign investment and since Chinese industry is being relocated to other Asian nations, Pakistan would like to benefit to the utmost from this Chinese policy.
But, the same time we are committed to protect and safeguard the interests of local industrialists and national economy.
He said investment and technology coming to Pakistan under the CPEC would local industrialists benefit from latest technologies as well as expertise of Chinese experts.
Ahsan Iqbal said numerous campaigns and propaganda was lodged by ulterior motives to sabotage CPEC as this project was meant for lifting the geo-economic landscape of Pakistan.
But, the concerted efforts by the government addressed all apprehensions of provinces and the business community.
To this regard the minister mentioned to sixth meeting of JCC in China that was also attended by Chief Minister from all the provinces as well as members from the business community.
This meeting allayed all the apprehensions of the federating unites and everybody agreed with the priorities of the project for countrys progress.
He said in this age of technological revolution, no can remain oblivious to development around the corner and Pakistan is also buttressing efforts to cap the industrial potential within the region and far from it.
On this the member did not press his adjournment motion and it was disposed of.
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