Pak-China Joint Chamber of Commerce and Industry (PCJCCI) on Friday stressed the need for taking representatives of all relevant organizations on board including the Pak-China-specialized chamber to decide the exact number and types of special economic zones to be set up along the CPEC route.
The PCJCCI founder president Shah Faisal Afridi in a meeting with the sitting president Wang Zihai said that the organizations working independently for the solidarity of Pak-China relations must share their knowledge regarding the specification of special economic zones to be set up jointly by both countries.
Afridi said that it is pertinent to determine the right direction of investment at the right time. PCJCCI is frequently in contact with the Chinese delegations and is well aware of the Chinese market needs and where Pakistan can fill the gap by developing its potent sectors that are merely lagging due to lack of technology and infrastructure.
PCJCCI is already taking special initiatives to bring investment from China in the eight potential industrial sectors including furniture, handicrafts, textiles, fertilizer, cement, glass work, energy and pharmaceuticals. These sectors are identified after the mutual data sharing by both countries, he said.
Pakistan is in dire need of maximum special economic zones to combat economic challenges being faced by the country since decades. These zones will strengthen the industrial base, will put economy back on the track besides protecting the national economy from global financial recessions and enable the government to utilize its resources at the targeted industrial areas, he added.
Faisal Afridi appreciated that primary objective of China regarding CPEC was to invest in special economic zones and industrial estates in Pakistan. The special economic zones played an instrumental role in the integration of China to the global economy and in its economic development therefore it's the best opportunity for Pakistan to learn from the Chinese expertise, he added.
Wang Zihai said that due to lack of cold-chain logistics and processing facilities, 50 percent of agricultural products of the country go useless during harvesting and transport. The entry of Chinese counterparts will help overcome such issues, he said. Both the office-bearers were of the view that preferential policies would be necessary to attract enterprises to come to the newly-built industrial parks envisioned under the plan.