Govt asked to ensure equal benefits for all

* Pakistan must create efficient and transparent environment for utilising and absorbing huge investments to revolutionise trading, transportation and industrial infrastructure'

KARACHI: It is vital all federating units to get equal opportunities for maximum financial benefits from the China-Pakistan Economic Corridor (CPEC) project, as it will serve long-term economic interests of both the countries.

Pakistan Yarn Merchants Association senior representative Ghulam Rabbani, Agha Saiddain of the Pakistan Tanners Association, Jawed Bilwani of the Pakistan Apparel Forum, Sanaullah Khan of the All Pakistan Marble All Pakistan Marble Mining Processing Industry and Exporters Association and Ibrahim Qureshi of the All Pakistan Business Forum urged the government to ensure that all provinces benefit equitably from this revolutionary project.

They said that CPEC was a transnational project which promises faster growth and infrastructural development of the region. With an investment over $50 billion promised by China for CPEC, Pakistan should take full advantage of this venture by creating an efficient and transparent environment for utilizing and absorbing such a large volume of investments, to revolutionize the trading, transportation and industrial infrastructure.

CPEC also promises large-scale developments in the energy sector, as more than $34 billion will be spent on energy projects, to add over 16,500 megawatts in the national grid, over the next decade. The industrialists and business community hail China's investment plans and trans-national initiative for boosting cross-border trade activities. With such huge foreign investment coming in the country, it is essential that all provinces get equitable benefits, opportunities and budgets for strengthening their infrastructure and trade activities.

It inspires new possibilities to set up industrial sites and energy projects in all the provinces of Pakistan, along this new road and rail network, especially in the economically deprived areas. The success of this initiative relies on stronger collaboration and cooperation among business communities of all provinces and across the borders. APBF is committed to dedicate all available resources and capabilities, to engage vital organizations and entrepreneurs in the region, to create robust links, new opportunities and mutual benefits, for all of the provinces in Pakistan.

They advised the government to put full force in connection of the policy formulation, regulatory realignments, economic reforms and implementation.