World

Pakistan to make economic zones under CPEC more investor friendly

Agency | February 05, 2019 10:59 AM

ISLAMABAD:  Pakistani Finance Minister Asad Umar has proposed changes in the initial plan of Special Economic Zones (SEZs) under the China-Pakistan Economic Corridor (CPEC) in order to make them more investor friendly.

In a meeting of Economic Cooperation Committee (ECC) here on Monday, Umar directed the Board of Investment, a department under the Prime Minister's Office which is responsible for making policies to mobilise and facilitate local and foreign investment, to approve application of companies interested in investing in the SEZs in 45 days from the previous 90 days, reports Xinhua news agency.

Chaired by Prime Minister Imran Khan, the purpose of the meeting was to deliberate upon the country's economic situation, and form a future strategy for the stability and revival of economy.

Both China and Pakistan have agreed to make CPEC focus on industrial cooperation after the first five-year early harvest period since 2013.

The joint venture in the SEZs is a major area in the bilateral industrial cooperation between China and Pakistan under CPEC aiming at boost local economy and employment.

Have something to say? Post your comment
Must Read
Ahead of trust vote, rebel K'taka MLAs lash out at 'monster government'
Ahead of trust vote, rebel K'taka MLAs lash out at 'monster government'
Floodwater enters Pobitora Wildlife Sanctuary, animals take refuge in highlands
Floodwater enters Pobitora Wildlife Sanctuary, animals take refuge in highlands
Administration enrols young minds to save depleting groundwater
Administration enrols young minds to save depleting groundwater
Jalandhar Rural Police conducts special house to house checking in Bajuha Kalan and Bajuha Khurd
Jalandhar Rural Police conducts special house to house checking in Bajuha Kalan and Bajuha Khurd
Hope UP govt fulfills all announcements for Sonbhadra firing victims: Priyanka Gandhi
Hope UP govt fulfills all announcements for Sonbhadra firing victims: Priyanka Gandhi
Teyonah Parris joins 'Wanda Vision' of Disney Plus
Teyonah Parris joins 'Wanda Vision' of Disney Plus
Work on second entry and facade improvement of the city Railway Station under Smart City Project to start soon
Work on second entry and facade improvement of the city Railway Station under Smart City Project to start soon
Rs 10,000 stolen from shopkeeper’s coin box
Rs 10,000 stolen from shopkeeper’s coin box
Drug Administration conducts 13500 raids in 17 months- Pannu
Drug Administration conducts 13500 raids in 17 months- Pannu
We don't want to go to second line of player: Arsenal's Emery
We don't want to go to second line of player: Arsenal's Emery
Gujarat governor meets Rajnath in New Delhi
Gujarat governor meets Rajnath in New Delhi
K'taka crisis: Confident of clearing floor test tomorrow, says HK Patil
K'taka crisis: Confident of clearing floor test tomorrow, says HK Patil