Asian Tigers built their strong economies by becoming export powerhouses. China has done so in more recent decades. How can Pakistan do the same? An answer to this question came this week from Karen Chen of China's Challenge Apparel. Here's what she said as reported by Dawn News:
“Chinese want to shift their business to a place where they can set up their operations in 3-6 months. You know when you go overseas to invest even in Africa they have industrial parks ready. You just go there and enjoy the ‘plug-and-play’ facility. No firm wants to waste two years in acquiring land and another couple of years in securing utilities to start operations. By the time you get utilities the opportunity is gone and you are already out of business. This is the biggest problem in Pakistan.”
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South Asia Investor Review
Pakistan's Debt Crisis
Declining Investment Hurting Pakistan's Economic Growth
Brief History of Pakistan Economy
Can Pakistan Avoid Recurring IMF Bailouts?
History of Pakistan Business and Industry
CPEC Financing: Is China Ripping Off Pakistan?
Pakistan's Lagging Industrial Output
Pakistan is 5th Largest Motorcycle Market
"Failed State" Pakistan Saw 22% Growth in Per Capita Income in Last 5 Years
CPEC Transforming Pakistan
Pakistan's $20 Billion Tourism Industry Boom
Home Appliance Ownership in Pakistani Households
Riaz Haq's YouTube Channel
PakAlumni Social Network
Your naivete is bewildering. What's truly happening to Pakistan is this: It is getting eaten up by the latest version of the British East Indian Company.
This is how China ate up Sri Lanka's two ports. Pakistan sold Gwadar to China for CPEC money which it spent solely on Punjab. Punjab is selling Balochi and Sindhi assets to China so it could get money for Punjab.
Shams: "This is how China ate up Sri Lanka's two ports"
The Chinese ‘Debt Trap’ Is a Myth
The narrative wrongfully portrays both Beijing and the developing countries it deals with.
BY DEBORAH BRAUTIGAM AND MEG RITHMIRE
Seen this way, China’s internationalization—as laid out in programs such as the Belt and Road Initiative—is not simply a pursuit of geopolitical influence but also, in some tellings, a weapon. Once a country is weighed down by Chinese loans, like a hapless gambler who borrows from the Mafia, it is Beijing’s puppet and in danger of losing a limb.
The prime example of this is the Sri Lankan port of Hambantota. As the story goes, Beijing pushed Sri Lanka into borrowing money from Chinese banks to pay for the project, which had no prospect of commercial success. Onerous terms and feeble revenues eventually pushed Sri Lanka into default, at which point Beijing demanded the port as collateral, forcing the Sri Lankan government to surrender control to a Chinese firm.
The Trump administration pointed to Hambantota to warn of China’s strategic use of debt: In 2018, former Vice President Mike Pence called it “debt-trap diplomacy”—a phrase he used through the last days of the administration—and evidence of China’s military ambitions. Last year, erstwhile Attorney General William Barr raised the case to argue that Beijing is “loading poor countries up with debt, refusing to renegotiate terms, and then taking control of the infrastructure itself.”
As Michael Ondaatje, one of Sri Lanka’s greatest chroniclers, once said, “In Sri Lanka a well-told lie is worth a thousand facts.” And the debt-trap narrative is just that: a lie, and a powerful one.
Our research shows that Chinese banks are willing to restructure the terms of existing loans and have never actually seized an asset from any country, much less the port of Hambantota. A Chinese company’s acquisition of a majority stake in the port was a cautionary tale, but it’s not the one we’ve often heard. With a new administration in Washington, the truth about the widely, perhaps willfully, misunderstood case of Hambantota Port is long overdue.
The city of Hambantota lies at the southern tip of Sri Lanka, a few nautical miles from the busy Indian Ocean shipping lane that accounts for nearly all of the ocean-borne trade between Asia and Europe, and more than 80 percent of ocean-borne global trade. When a Chinese firm snagged the contract to build the city’s port, it was stepping into an ongoing Western competition, though one the United States had largely abandoned.
It was the Canadian International Development Agency—not China—that financed Canada’s leading engineering and construction firm, SNC-Lavalin, to carry out a feasibility study for the port. We obtained more than 1,000 pages of documents detailing this effort through a Freedom of Information Act request. The study, concluded in 2003, confirmed that building the port at Hambantota was feasible, and supporting documents show that the Canadians’ greatest fear was losing the project to European competitors. SNC-Lavalin recommended that it be undertaken through a joint-venture agreement between the Sri Lanka Ports Authority (SLPA) and a “private consortium” on a build-own-operate-transfer basis, a type of project in which a single company receives a contract to undertake all the steps required to get such a port up and running, and then gets to operate it when it is.
The Canadian project failed to move forward, mostly because of the vicissitudes of Sri Lankan politics. But the plan to build a port in Hambantota gained traction during the rule of the Rajapaksas—Mahinda Rajapaksa, who served as president from 2005 through 2015, and his brother Gotabaya, the current president and former minister of defense—who grew up in Hambantota. They promised to bring big ships to the region, a call that gained urgency after the devastating 2004 tsunami pulverized Sri Lanka’s coast and the local economy.
Zhang Baozhong, the chairman of China Overseas Ports Holding Company – the firm that operates Gwadar Port – has said that the first phase of the special economic zone under the China-Pakistan Economic Corridor has been completed in which 43 Chinese companies are going to invest while 200 more firms have been registered for the purpose.
Talking to The Express Tribune, the chairman said that besides infrastructure and energy projects, various industries, including textiles, chemicals, automobiles and mobiles, would be set up in the Gwadar industrial zone, which will create more employment opportunities.
Baozhong rejected the reports circulating in the media about hindrances in the multibillion-dollar project, saying that work on CPEC is going on in full swing and there are no impediments as the “government of Pakistan is extending full cooperation”.
“Despite the coronavirus pandemic, the pace of work has not slowed down and many CPEC projects have been completed ahead of time,” Baozhong said, adding that after the completion of CPEC, Gwadar will become the largest port in the region and an important economic hub in the world, which would benefit various countries.
“The Gwadar Port is fully operational and cargo ships have started arriving,” he said, announcing that a liquefied natural gas terminal will also be established at the port.
“CPEC is a great economic project,” he said. “It is a symbol of the cohesive relationship between
Pakistan and China and a testament to our friendship.”
Donning the national dress of Pakistan, he chanted the slogan "long live Pak-China friendship".
On the attire, he said, "I like shalwar kameez as my heart beats for Pakistan."
Meanwhile, Gwadar Development Authority Director General Shahzeb Khan Kakar told The Express
Tribune that under the 2050 Master Plan, the issues of water and electricity for the “150,000 people” of Gwadar would be resolved by the end of next year (2022). However, the people of the port city claim that their population is over 300,000.
“Work is in full swing on a desalination plant, which will convert five million gallons of seawater into drinking water and a 300 megawatts coal-fired power plant,” Kakar said. “Both the projects will be functional by January 2023.”
He also announced projects worth Rs20 billion for the uplift of the people of Gwadar.
“Efforts are afoot to turn Gwadar into a tax-free economic zone and a port city,” he said, adding that a one-window system is also being introduced to facilitate investors.
He shared that they were inviting the business community to establish industries in Gwadar for the generation of revenue. “A 250-km road network has been laid in Gwadar,” Kakar said, adding that an industrial zone in Gwadar would comprise three divisions. “An education city and a diplomatic zone will also be established in the port city.”
Further, Balochistan Department of Industry and Commerce Additional Secretary Manzoor Hussain said that the provincial government has formulated rules for allotment of land in industrial zones in the province. “Land will now be allotted in industrial zones only to those industrialists who will set them up within the stipulated timeframe,” Hussain said, adding that work on development projects in Gwadar was under way under CPEC.
On the development of the port city, Gwadar Industrial Estate Development Authority Managing Director Attaullah Jogezai said that the provincial government will soon allocate 20,000 acres of land for the special economic zone.
Gwadar Club Chairman Brigadier (retd) Asif Mehmood said, “Special security arrangements have been made in and around Gwadar, which has led to peace in Balochistan.”
Riaz Sahib this is the 100 billion dollar problem. This statement might sound inconsequential but actually is fundamental. The problem Pakistan has is that it is not open to outside cultures. Instead of learning and adapting Pakistan culture is to force others to adapt to their level.
Find me another country where a Chinese investor would be obliged to dress like the locals? This is a symptom of deeper cultural wall that exists. Baozhong or Karen Chen might adapt to the local culture but most Chinese will not. To bring sea change in Pakistan economy, a country of 220 million will need 100s of Karen Chens and Baozhongs but they won't come for the aforementioned reason.
Instead most will go to more culturally accomodating countries like Vietnam, Philipines, Malaysia, Indonesia etc
IndusPak: "Instead most will go to more culturally accomodating countries like Vietnam, Philipines, Malaysia, Indonesia etc"
I think the Chinese investors' decision will mainly be guided by their commercial interests. If they see an opportunity to make a buck by relocating industrial units to Pakistan, they will. They are a lot more practical than most other nationalities, including Pakistanis.
The tendency in Pakistan is alway about making big bucks as soon as the investment is made. For a business to flourish it takes hard work, patience and not cut corners. There are too many holidays as well. The idea of having a disciplined work force is also a big challenge.
SEZs with IPPs independent of Pakistan Grid - like I said on September 17, 2020 at 9:01 AM, on the post - http://www.riazhaq.com/2020/09/thirlwall-law-why-hasnt-pakistans-gdp.html
Jiye Jiye Pakistan ! So long as Pakistan supports the independence of Kashmir - Allah will bless Pakistan
IndusPak: "Instead most will go to more culturally accomodating countries like Vietnam, Philipines, Malaysia, Indonesia etc"
Sample - the Indonesian Pogrom of Chinese in 19918
Sample - The Vietnamese love for Chinese in 2014 and 2018
Malaysia is too expensive
Pinos are way up in cost curve - but lesser than Malaysia.dindooohindoo
IndusPak: "Instead most will go to more culturally accomodating countries like Vietnam, Philipines, Malaysia, Indonesia etc"
Vietnam - The entire manufacturing is 10-100 kms on the sea coast line.Sea levels are rising and land is eroding.There is no space for industrial land.Land in the interiors has no infra - and will take billions and time to build.Secondly,there is the issue of skilling. Viet education and culture is suited to low end manufacturing - which has shifted to Vietnam,as the cost curve has risen in PRC.Thirdly the time has come for Vietnam to pay for the costs of pollution due to low cost manufacturing - in terms of health care costs. Fourthly,Vietnam will NOT allow SEZ in Vietnam owned,run and STAFFED BY 100% Chinese. Fifthly,the young population of Vietnam - as time passes,will move into the axis of the USA -as they have a mortal fear of the PRC.This will make for Political Risk for the PRC investments in Vietnam.Sixthly, PRC SEZs have their own ports and power plants.Vietnam
has a naval axis with India and will soon fall in the lap of the USA - so the integrated strategy of the PRC in SEZs is not viable in Vietnam,Lastly,there is the problem of the Dong !
So Vietnam is NOT an option
Indonasseah - Everything that works in that country is due to the Chinese - as owners or managers or bureaucrats.Which is Y no Indonesian likes them.Then there is the Chinese treatment of Uighurs.Then there is the issue of resources.The fact is that the Indonasseans do not like the idea of foreigners selling their resources (like the Dutch did with Tin and Nickel).But between the PRC and the US/EU,they will choose PRC.However,manufacturing investments from PRC will not flow into Indonasseah - as there is a severe shortage of skilled labour and managers.
However,given a choice between an Indian and a Chinese - the Indonasseans would jump for the Chinese.If they had their way they would shut down IndoRama - run by an Indian Marwari
Pinos - This nation is an Option as it has an abundance of highly skilled and literate staff and managers,good infra and a solid and stable currency.However,after Duterte leaves the Pinos will be back in the lap of the USA.This makes for political risk for Chinese investments.MOST IMPOFRTANTLY,IT IS NOT A LDC !
Malaysia is too expensive.dindooohindoo
So the only option,is the Islamic Republic of Pakistan.
With COVID,if manufacturing requires a 10 foot distance,at the shop floor,then manufacturing from EU/USA will have to shit to Pakistan - as it has the best COVID track record, among all the above nations.Vietnam's numbers cannot be believed
Let the PRC come in and set up Integrated SEZs with IPPs and ETPs,and let them use
their staff (100%) in Phase 1
These will be 100% SEZs,with no DTA sale - but with some DTA contractors and DTA purchase (
as necessitated by economic expedience).By doing DTA transactions,they will have some interaction with Pakistani enterprise,and develop their enterprise - and also get management comfort,w.r.t the Pakistani supply chain.
Let them import and export whatever they want and do "wherever they want".In other words, let them use hazardous chemicals,spent catalysts,bio hazards - so long as,THEY SECURE ITS DISPOSAL.
If the PRC wants the LDC status of Pakistan (for exports),and the COO of Pakistan - they will use the minimum Pakistani labour and Pakistani Raw Materials required - for meeting the VA norms,of the LDC treaty.dindooohindoo
In lieu of the above concessions,what can the Pakistani state demand from PRC ?
That the FX earned on Exports,be brought into Pakistan immediately
That each SEZ unit,should be NFE positive throughout
That the dividend repatriation be staggered,so that the PKR is supported,and there is no
need for IMF or Saudi loans (So the FX treasury of SBP,is outsourced to the PRC-SEZ)
That the Capital in the SEZ not be repatriated for 20 years
That the SEZ profits can be invested in SBP-USD/YUAN Bonds (to bring parity with Chinese investments) - which will be priced lower than IMF/Saudi/US Hedge Fund money
This will be enough to stabilise the PKR,and zeroise the cost of the sterlisation and FX intervention transactions of the SBP.
Even if the SEZ is moving cash - it is irrelevant,as the same cash could come via hedge funds,into Pakistani High Yield USD Bonds (or Argentine/Turkish Bonds).The cash will goes into High Yield Debt VIA FUND HOUSES,is basically,partly slush cash.
As time passes,the SEZ-PRC will rely more and more on the Pakistani supply chain and develop Pakistani management expertise
In the next step,the SEZ can sell into the DTA,the excess capacity and subprime stocks,and Pakistani buyers can treat it as imports,and pay in USD,and accrue a tax free profit,to the SEZ-PRC.The point is that the SEZ is fully integrated - and is not a burden on the Pakistan state and people - so no tax needs to be levied on the SEZ - even on DTA sales.USD paid by DTA to SEZ will stay in Pakistan,or come back to Pakistan.
Sales from SEZ to DTA will be on VAT (as an offset to BCD) so the Pakistan state will get the customs duty avoided by Pakistani importers,in the normal course (and still be cheaper for the Pakistani in the DTA).
Therefore,the aim is to get USD in Pakistan and keep the USD in Pakistan.Why tax it ? Therefore the SEZ can have a 10 year holiday with say a 5 year loss period (thereafter which,the holiday starts).Even the DDT on dividend can be waived,if the SEZ agrees to the SBP repatriation rules - so that USD outflow pressure,is reduced
Once the PRC-SEZ gets comfort,then there are Billions to be invested in low cost housing using new and innovative materials,education,agri supply chain,mining and tourism.These very Chinese (of the SEZ) will invest the SEZ profits and MORE Capital,into these new businesses.
Therefore,all the USD,will stay in Pakistan.
And then,the Pakistan state,can tax the profits of the SEZ
So,1st step is TO get the USD into Pakistan
Then keep the profits of the SEZ in Pakistan
Then entice the SEZ to invest the profits in Pakistan
THEN TAX THEM ALL !
THERE IS NO OTHER NATION IN THE WORLD WITH WHICH PRC HAS THAT LEVEL OF COMFORT -EXCEPT WITH PAKISTAN - EXCEPT DPRK.In DPRK,with Joe Biden,peace has no chance - as the intent of Joe is irrelevant - it is the perception of Kim which counts.
Chinese company to carry out marketing for Rashakai SEZ
The China Road and Bridge Corporation (CRBC) would carry out the marketing campaign for the Rashakai Special Economic Zone under China Pakistan Economic Corridor (CPEC) expressing interest to work with the Board of Investment in this regard.
In a meeting with Minister for Planning Development and Special Initiatives Asad Umar here on Friday, the CRBC Vice President Sun Yaoguo along with a delegation said that external marketing of the SEZ to local and foreign investors was crucial for its full operationalization.
The meeting reviewed the Rashakai Special Economic Zone (SEZ) and CRBC’s mega-project Karachi Coastal Comprehensive Development Zone. The vice president of CRBC stated that the development work of Rashakai SEZ was being carried out at a fast pace and to that end the necessary resources had already been mobilized.
He assured the minister that the timelines for the projects would be strictly observed. The minister said that the industrial cooperation was the need of CPEC and the government was keen to see early completion of the project and the ministry of energy had already expedited the work on supply of electricity and gas to the SEZ.
He said that BOI would fully cooperate with CRBC for effective marketing of the SEZ. Asad Umar said that it was the first time in Pakistan that the foreign developer would be marketing an Industrial zone. He hoped that CRBC would be able to attract substantial investment in the SEZ from Chinese investors.
During the meeting Mr. Sun also briefed about CRBC’s mega project Karachi Costal Comprehensive Development Zone in collaboration with the Ministry of Maritime Affairs and the government of Sindh.
He said that the project would add substantially to the city’s economy landscape and would be generating employment opportunity for a very large number of populations of the city.
The minister said that the Karachi Costal Development Project was an important project and the federal cabinet had approved the signing of a Memorandum of Understanding (MoU).
It will give a boost to the business and technology sectors and provide employment opportunities to the people.
How China and Pakistan Negotiate
KATHARINE ADENEY, FILIPPO BONI
The development of Gwadar was as much of a priority for Pakistan as it was for China. Although China’s strategic calculations are often emphasized, the port of Gwadar was a Pakistani-initiated proposal in the early 2000s that was only later rebranded as a BRI project after 2013. All Pakistani governments over the past twenty years, both military- and civilian-led, have encouraged China’s involvement in Gwadar, while Beijing in turn sees the port as a strategic access point to the Indian Ocean.
The CPEC’s chosen route was affected by partisan Pakistani politics. The decisionmaking behind the corridor’s geographic route was an early indication that Pakistan’s preferences have been key in shaping how the CPEC has unfolded on the ground. In particular, the choice to prioritize projects in Sindh and Punjab stemmed from then prime minister Nawaz Sharif and his party’s desire to obtain medium-term electoral gains, alongside China’s interests in developing projects in Pakistan’s more economically developed provinces.
Despite its initial suspicions of the CPEC, the Pakistan Tehreek-e-Insaf (PTI) has been as partisan in its use of the CPEC as its predecessor was. Since taking office in 2018, the PTI’s focus on socioeconomic projects has not deviated markedly from the Pakistani government’s previously formulated plans for the CPEC. But its choice of the Rashakai special economic zone (SEZ) in Khyber Pakhtunkhwa, over others rated more favorably in feasibility studies (and despite a strong Chinese preference for an alternative location), undermines the narrative that China is always the one distorting market forces with ill-suited BRI projects.
Energy projects were initially prioritized by Pakistan’s choice. The majority of first-phase CPEC investments went to energy projects, most notably coal power plants. This preference for coal was part of Pakistan’s desire to diversify the composition of its energy markets. This goal was also in line with Sharif’s and his party’s preference for energy projects to end the country’s electricity shortages in order to secure a 2018 reelection bid.
The challenges facing SEZs. Despite China’s and Islamabad’s agreement to focus on and prioritize a few SEZs and China’s desire to relocate some industries to lower-cost production areas, the development of SEZs has been slow. This has been the result of a cumbersome bureaucratic structure and the politicization of these projects.
Rhetoric on the CPEC has often failed to match reality. The lofty language on the CPEC has generally failed to measure up to the realities on the ground when it comes to delivering for the people of Pakistan. Many projects aimed at winning Pakistani hearts and minds have been included in the CPEC, but these have often not materialized or have been delayed.
CPEC to aid Pakistan’s industrial development
On the whole, weak foundation, and small scale are major problems holding back speed of Pakistan's industrial development. Industries such as cement and automobile manufacturing have long been overly protected, some analysts say.
Secondly, Pakistan's economic development relies heavily on external markets, but the dominant export industry, the textile industry, does not have outstanding advantages.
Thirdly, Pakistan has low domestic savings rates and low domestic investment rates. The Pakistani government attaches great importance to attracting and utilizing foreign investment, but the level of foreign investment in Pakistan is significantly affected by the regional and domestic security situations.
Fourth, low fiscal revenues and heavy external debt burdens have been major problems in Pakistan's economic development, limiting the government's ability to invest. The heavy debt burden has limited the government's ability to invest in public sectors.
Since the COVID-19 outbreak, the significance of the construction of the CPEC has become a key highlight for the country's economic development. The construction of the CPEC will play a supporting role in Pakistan's economic recovery in the post-pandemic era. Pakistan should seize the opportunity to formulate scientific development plans to advance domestic industries with competitive advantages.
Speaking of China-Pakistan industrial cooperation, agriculture is the sector that could help Pakistan consolidate its industrial advantages and industrial chain, and help the country quickly gain foreign exchange earnings through exports. At the same time, China should open its market to Pakistani agricultural products and fruits, and expand imports of Pakistani agricultural and industrial products.
The textile industry is a traditionally strong industry in Pakistan. When China's textile industry is shifting outward due to labor price rises, Pakistan should seize the opportunity to use the advantages accumulated by China's textile industry to upgrade its own industry and accept orders from aboard. In addition, the Indian textile industry has largely come to standstill due to the latest resurgence of the pandemic, and a large number of global orders have been transferred to other markets, including China.
Pakistan should seize the opportunity of global value chain and industrial chain restructuring to develop its emerging industries.
For example, since 2020, affected by India's increasingly hostile attitude towards Chinese companies, many Chinese mobile phone brands in India have begun to move their factories to countries like Vietnam, the Philippines, and Indonesia. This is also an opportunity for Pakistan.
#China completes work on $1.7 billion project to transform #Pakistan’s dysfunctional national grid. The 878km, 660kV DC, #Matiari–#Lahore transmission line will provide the national grid with a new backbone. 1300 #Chinese & 650 #Pakistanis worked on it. https://www.globalconstructionreview.com/sectors/china-completes-work-17bn-project-transform-pakist/
A $1.7bn electricity transmission line on the China–Pakistan Economic Corridor (CPEC), which was begun in December 2018, was inaugurated in a ceremony held in Islamabad and Beijing at the end of last month.
The 660kV Matiari–Lahore high-voltage direct current line will provide Pakistan’s national grid with a new backbone and improve chronic problems with the country’s energy transmission and distribution grids.
The 878km line was financed and built by the State Grid Corporation of China, which will operate it for the next 25 years.
More than 1,300 Chinese and 6,500 Pakistani workers were employed on the scheme.
Hammad Azhar, Pakistan’s energy minister, said the project would bring stability to the country’s power system. Speaking at the online ceremony, he said the project would “enhance transmission capability and bring relief to consumers”.
Electricity generation in Pakistan has increased dramatically in recent years, thanks to the large-scale construction of mainly coal-fired plants funded by China.
As a result the country has an installed capacity of around 37GW and peak demand of only 25GW, although this is growing at a rate of about 5% a year. However the grid is able to handle only 22GW of power, resulting in chronic blackouts and load shedding, particularly in the summer when demand is highest.
However, problems occur in winter as well. In January of this year, the entire country suffered a blackout after a fault at a power station in southeast Sindh province caused the grid to lose its 50Hz frequency, which caused power stations throughout the country to close down.
This makes the reinforcement of the grid, arguably, the single most important infrastructure scheme for the country’s socio-economic development.
Zhang Jianhua, head of China’s National Energy Administration, told those present at the ceremony that the Matiari-Lahore line was the first large-scale transmission project of the CPEC, and would provide “solid assurance” for power transmission in the south and power supply in the north.
Speaking about the economic corridor in general, Azhar added: “The CPEC is of utmost importance for Pakistan. It will enable the country to enhance industrial production, upgrade energy and communication infrastructure and improve connectivity within the region.”
Of Pakistan’s 207 million people, roughly 58 million lacked access to grid electricity in 2018, including 46% of the rural population.
As I said on February 27, 2021 at 9:39 AM
"With COVID,if manufacturing requires a 10 foot distance,at the shop floor,then manufacturing from EU/USA will have to shit to Pakistan - as it has the best COVID track record, among all the above nations.Vietnam's numbers cannot be believed"
At that time Vietnam had NIL cases of COVID !
I HAD SAID "Vietnam's numbers cannot be believed"
TODAY THE COVID NUMBERS ARE 7000 A DAY !
AND EVEN THESE NUMBERS CANNOT BE BELIEVED ! dindooohindoo
CPEC special economic zones to generate huge job opportunities in Pakistan: official
Four special economic zones (SEZs) being set up under the framework of the China-Pakistan Economic Corridor (CPEC) are likely to generate about 575,000 direct and over 1 million indirect jobs in Pakistan, a senior official said on Thursday.
The economic zones being established in the country's Khyber Pakhtunkhwa (KP), Punjab, Sindh and Balochistan provinces would bring about immense opportunities for Pakistani people in job and business sectors, Chairman of Special Economic Zones Authority S.M. Naveed said.
"We have conducted a study to assess job opportunities in four out of nine SEZs, including KP's Rashakai, Sindh's Dhabeji, Punjab's Allama Iqbal and Balochistan's Bostan, to find out potential jobs and industries in the SEZs," the official said, adding that the SEZs offer employment in different fields for which the local youth would be trained before the initiation of the industrial phase.
The trained and skilled labor and engineers would not only get good jobs in the economic zones but also enable Chinese and local companies to recruit skilled professionals from local areas, he added.
The potential industries being set up in the CPEC special economic zones include food processing, cooking oil, ceramics, gems and jewelry, marble, minerals, agriculture machinery, iron and steel, motorbike assembling, electrical appliances and automobiles.
Launched in 2013, CPEC is a corridor linking Pakistan's Gwadar Port with Kashgar in northwest China's Xinjiang Uygur Autonomous Region, which highlights energy, transport and industrial cooperation. ■
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