Islamabad: Jan 05, 2018: The Secretary Planning, Development and Reform (PD&R), Shoaib Ahmad Siddiqui has said that CPEC is moving to next stage of development by entering into industrialization phase where Pakistan’s private sector has to play a leading and proactive role.

He expressed these views while addressing a consultative meeting of Islamabad and Rawalpindi Chambers of Commerce and Industry on Friday at Ministry of Planning.

The meeting was attended by the Secretary Board of Investment (BoI), Sumaira Nazir Siddiqui, President Islamabad Chamber Shiekh Amir Waheed, President Rawalpindi Chamber Zahid Latif Khan, members of both the chambers and officials from CPEC Secretariat and BoI.

Shoaib Ahmad Siddiqui said that under the win-win cooperation framework between China and Pakistan in the shape of CPEC, both the countries demonstrated tremendous resolve to make dream a reality. He said that the trade and industry development, for Pakistan, is the main gain from CPEC as a driving force for economic growth and to take the fruits of CPEC to the lesser developed regions of Pakistan. “This process is inclusive, not exclusive and it will help create efficient and competitive industrial clusters to attract investment and to diversify exports”, he remarked.

He said that industrial cooperation phase under CPEC is at advance stage where officials and experts of both the sides are engaged to level ground for investment and develop SEZs in line with the modern trends. He pointed out that Government of Pakistan has ensured to kept local business community onboard and it is evident of the fact that elected leadership of the community has been made part of every consultation process; either internal preparation or on the level of Joint Working Group and Joint Cooperation Committee of CPEC. “This shows the government resolve and openness to make this endeavor, a successful one, enabling local investors to accrue maximum benefits of this cooperation”.  He ensured that the process of consultation will continue and local industry would be safeguarded.

He said that Government of Pakistan has already announced a comprehensive and a business friendly incentive package aimed at up-scaling investments and grows the industry. “The incentive package and policy is very liberal and open for all investors; local, Chinese and others” he reiterated.  He said that now it is the time to go a step forward and envisage on more concrete and focused efforts where Pakistan’s private sector has to play a leading role. “Local investors need to look for venues being created by the CPEC industrial cooperation, trying to enter into joint ventures with Chinese and other businessmen” he said.

Presidents of both the Chambers have expressed their full optimism regarding CPEC, declaring the project as a game changer and future of the new generation. They also appreciated the government policy of openness where business community has been provided full chance of representation in consultation process for CPEC. It was highlighted that local investors are ready to grasp the opportunities being created by this multi-billion project. The business community also forwarded a number of proposals for boosting the industrial cooperation under CPEC.