ISLAMABAD: Prime Minister Shehbaz Sharif will pay a visit to Rashakai Special Economic Zone on Wednesday (today) located in Khyber Pakhtunkhwa.
Rashakai SEZ is a flagship project under the industrial cooperation of China Pakistan Economic Corridor (CPEC) framework. The 1000 acres SEZ is developed by China Road and Bridge Corporation (CRBC) in joint venture with Khyber Pakhtunkhwa Economic Zones Development and Management Company (KPEZDMC).
On the occasion, the prime minister will be briefed about the construction of Rashakai SEZ. He will also visit the construction site and address a ceremony.
Managing Directors of National Transmission & Despatch Company (NTDCL) and the Sui Northern Gas Pipelines Limited (SNGPL) will brief the prime minister about the provision of gas and electricity to the economic zone.
Earlier, Prime Minister Shehbaz Sharif said that both countries were moving toward the second phase of the China-Pakistan Economic Corridor (CPEC) which comprised regional cooperation and industrialization through establishing the industrial zones.
In an interview with Chinese media, the prime minister said joint venture of Chinese industry and technology with Pakistan’s labour and investment would create a win-win situation for the two countries by boosting their production and exports to the world.
He said Pakistan’s skilled and semi-skilled labour was comparatively cheaper and the joint venture of Chinese technology and Pakistan’s labour and investment would help the two countries make production at competitive rates and export their products to other countries.
He said the first phase of the CPEC featured road and energy projects to meet Pakistan’s power needs which transformed friendly relations into unique ones where people-to-people contacts had seen a new phase.
He said when the CPEC agreement was signed between President Xi Jinping and that time Prime Minister Nawaz Sharif, Pakistan was faced with crippling load shedding. However, two years after the launch of CPEC projects, the country had been able to overcome the situation.
He said Pakistan and China enjoyed time-tested friendship which had attained more heights under the leadership of President Xi Jinping. He said in form of CPEC, Pakistan had been the first beneficiary of the Belt and Road Initiative (BRI).
To a question, the prime minister said the CPEC projects had faced some hiccups during last three to four years, however the incumbent government was resolved to take it to “Pakistan Speed” to fill the gap.
