Pakistan: EAC discusses investments in CPEC SEZs with regional development partners

Islamabad: Pakistan’s Economic Advisory Council (EAC) led by Federal Minister for Finance and Revenue Shaukat Tarin has discussed the investments in the Special Economic Zones (SEZs) under the China-Pakistan Economic Corridor (CPEC) with the regional development partners.

The EAC follow up meeting presided over by Federal Minister for Finance and Revenue Shaukat Tarin was held at the Finance Division, said an official statement.

The meeting was attended by Federal Minister for Industries and Production Khusro Bakhtiar, Federal Minister for National Food Security and Research Syed Fakhar Imam, Federal Minister for Economic Affairs Division Omar Ayub Khan, Adviser to PM on Commerce Abdul Razak Dawood, Adviser to PM on Institutional Reforms & Austerity Dr. Ishrat Hussain, Special Assistsnr to the Prime Minister (SAPM) on Social Protection and Poverty Alleviation Dr. Sania Nishtar, SAPM on Power Tabish Gauhar, SAPM on Finance and Revenue Dr. Waqar Masood, Governor State Bank of Pakistan Dr. Reza Baqir, Abid Suleri, M. Ali Tabba, Dr. Rashid Amjad, Sultan Allana, Syed Salim Raza and many others from the private members category.

Federal Minister for National Food Security Syed Fakhar Imam, SAPM on Social Protection and Poverty Alleviation Dr. Sania Nishtar and Chairman CPEC Authority Asim Saleem Baja gave presentations on behalf of their respective groups, said the statement.

CPEC Authority chief discussed the possibilities of investment in the special economic zones in collaboration with the regional development partners in a structured manner through short, medium and long-term strategies.

The subgroup on CPEC led by Chairman CPEC Authority gave a comprehensive presentation on the progress of the project.

The group also thanked the Finance Minister as Chairman Executive Committee of the National Economic Council (ECNEC) for according approval to road connectivity projects for Balochistan Province that will significantly enhance the effectiveness of the Project.

The group briefed the meeting that the “projects under CPEC are being completed according to our commitment.”

The first session of the second meeting of Economic Advisory Council was held on 1st June 2021. During the second session of second meeting of Economic Advisory Council, which continued four hours, four sub-groups gave their detailed presentation.

The four sub-groups which presented their suggestions during second session of the second meeting of Economic Advisory Council included groups on Food Security, Agriculture, CPEC, Social Protection and Information Technology and Digitalization.

The presentations included in-depth analysis of the relevant sectors, current functioning and ways forward for future. All the participants gave their inputs over the presentations. The first sub-group presentation on Agriculture was made by the Federal Minister for National Food Security and Research, Syed Fakhar Imam.

Federal Minister for Industries and Production, Khusroo Bakhtiyar, emphasized the need to introduce the ‘Agricultural Transformation Plan’ which has been prepared by the present government after extensive discussion with the relevant stakeholders and after making detailed analysis of available data.

The Finance Minister assured that the proposed plan will be thoroughly considered and firmed up recommendations will be made a part of the upcoming budget.

Federal Minister for Finance and Revenue Shaukat Tarin during the meeting said that fundamental objective for constitution of Economic Advisory Council is to make concrete short, medium and long-term strategies for growth and transformation of all sectors of the economy.

Different sub-groups have been constituted to get concrete proposals in consultation with all sub-groups. The Finance Minister immensely appreciated the professional in-depth deliberation on the presentation during the session. The Finance Minister further directed to make regular discussions a part of the working of the Finance Division with reference to EAC.