Daily Times

Prime Minister Shehbaz Sharif on Monday assured the Chinese investors to further simplify the procedures for the companies working in Pakistan, especially under the umbrella of China Pakistan Economic Corridor (CPEC), and implement them in letter and spirit. He said under the CPEC, the two countries were entering into a new era of cooperation, therefore the government was further streamlining and simplifying the procedures to facilitate the Chinese companies and investors working in the country.

PM Shehbaz assured the Chinese investors that the difficult time for them was now over as “We are going to do this under one umbrella as a one window operation and this I mean in letter and spirit…not just words but true implementation”. Addressing an award ceremony here, Shehbaz Sharif said that the Chinese government and companies had contributed towards Pakistan’s industrial promotion in various areas and their contribution had not only led to creating job opportunities and industrial production but also further strengthened the bilateral economic ties.

Earlier the prime minister gave awards to top-performing Chinese companies working especially in projects under CPEC in Pakistan. He said recently the two friendly countries had celebrated a decade of CPEC under Belt and Road Initiatives (BRI). He said China had so far invested a valuable $30 billion under CPEC which had really transformed the economic landscape in Pakistan. “Now we are entering into the second phase of CPEC in which multiple new areas are being incorporated including the green corridor, Information Technology, and Special Economic Zones.

He said the Pakistan government had launched a great initiative “Special Investment Facilitation Council (SIFC)”, which would consist of all main stakeholders including the federal government, all provincial governments, and institutions, particularly Pakistan Army led by General Syed Asim Munir.

He said the Army Chief had personally contributed to this programme in a way that it had no parallel in the past as he was totally dedicated to promoting the cause of Pakistan and the people who had education and talent but no jobs. “The programme SIFC will dovetail with the entire CPEC mechanism and will be a propeller in terms of Pakistan’s industrial agri progress,” he added. Charge d’affaires of the Chinese Embassy in Pakistan Pang Chunxue said since its launch in 2013, the CPEC being the pilot project of the Chinese Belt and Road Initiatives (BRI) had made remarkable contributions to the socio-economic development of local people of the country.

She said China would always stand firmly with Pakistan and work together to coordinate the country’s development and security areas.

Meanwhile, the third meeting of the Apex Committee of Special Investment Facilitation Council (SIFC) was held here on Monday to continue the positive momentum to attract investment in various sectors of economy.

The meeting was chaired by Prime Minister Muhammad Shehbaz Sharif and attended by Chief of Army Staff, chief ministers, federal and provincial ministers, and high-level government officials.

The prime minister appreciated the expeditious operationalization of SIFC in a short span and its efficient functioning through a collaborative approach.

The Apex Committee appreciated the global impact of the ongoing outreach strategy through seminars and project inaugurations; which would be augmented by the SIFC’s website, being launched shortly. It gave final approval of the projects, presented by the ministries, for attracting investments from friendly countries, under the umbrella of SIFC, in key sectors of agriculture, livestock, mining, minerals, information technology and energy.

The Apex Committee showed all-out support for successful conduct of the upcoming visit of a high-level delegation from the Kingdom of Saudi Arabia to Pakistan through the SIFC platform. The prime minister directed to make this inaugural visit a momentous event.

At the end, the committee expressed the resolve for continuous support to the SIFC initiative and urged the incoming interim government to maintain the impetus for a positive contribution.