1 week Ago
Pakistan is taking active steps to attract Chinese industries affected by high US tariffs. In response to the ongoing US-China trade dispute, the government is preparing a detailed roadmap to encourage Chinese businesses to relocate operations to Gwadar. The plan includes offering incentives and creating a favorable environment in the China-Pakistan Economic Corridor (CPEC) zone.
The Cabinet Committee on Chinese Investment Projects (CCoCIP) has directed key departments to act swiftly. The Board of Investment and Ministry of Industries have five days to finalize a strategy. Meanwhile, the Ministry of Commerce has been told to immediately allow exports of Potassium Sulphate fertilizer from Gwadar Port through a new regulatory order.
Moreover, the committee discussed several strategic moves to make Gwadar more investor-friendly. These include launching a Foreign Currency Facilitation project, improving seafood transshipment logistics, and securing power supply to the desalination plant. The government also plans to connect the plant to the National Grid to address power shortages caused by the halt in electricity imports from Iran.
Additionally, efforts are underway to speed up electricity supply to the Rashakai Special Economic Zone. The Power Division and NEPRA were urged to finalize plans quickly. The Board of Investment has also been tasked with resolving pending issues and presenting a full progress report at the next committee meeting.
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