KARACHI, Apr 03 (APP):Federal minister for Planning, Development
and Special Initiatives, Asad Umar, has said scope of China Pakistan
Economic Corridor has expanding as various important projects entered
into advanced stage.
Talking to media persons during visit of Federation of Pakistan Chambers
of Commerce and Industry (FPCCI) here on Saturday, the federal minister
said that in the second phase of the CPEC projects relating to
agriculture, industry and employment were being planned.
In the first phase of CPEC basic infrastructure, energy sector
particularly hydro-electrical power generation were given priority, he
said and added that a multibillion dolor railway project ML-I was in
advanced stage and remarkable progress has been achieved in lieu of
financing of the project. The joint committee on CPEC would consider the
project in its next meeting, he informed.
He said that work on Rashakae and Faisalabad trade zones was also in
progress. The entire work on western corridor of the CPEC has been
carried out by PTI government while during previous governments the
important segment of the project was marred by conflicts and confusions,
he said.
On a question regarding Karachi Package, Asad Umar informed that most of
the projects would be completed in current year as federal government
was actively pursuing the projects under Rs.1100 billion Karachi
development package.
The busses under mass transit project Green Line would start plying on
roads of metropolis in August this year, the minister said and added
that design of Karachi Circular Railway was completed as well and work
could be started by the end of the year.
Initial work on Karachi Trade Corridor- another important project for
laying a dedicated railway line from Karachi port to Pipri with
estimated cost of Rs.130 billion- started as well and it was expected
that tenders of the project under BOT mode would be floated this year,
planning minister informed.
WAPDA resumed work on K-IV project that was suspended since previous two
years and its completion might be achieved in second half of 2021, he
claimed.
The federal government took responsibility of improving rain water
drainage system of Karachi with a focus on Mehmoodabad, Korangi and
Gujar Nullah and work was in full swing, he said adding that
encroachments has been removed, compensation amount had been paid to
affected population of Mehmoodabad.
Asad Umar while terming the electricity as a major issue of Karachi said
federal government committed to add 900 megawatt in K-Electric’s system
but it was going to add more than one thousand mega watt as 450 megawatt
project of KE would be commissioned in May while NTDC would be able to
provide additional 650 megawatt as well.
Rationalization of electricity price for industrial sector by PTI
government has accelerated industrial activities while large scale
manufacturing sector has seen a record growth over 10 percent, he
claimed and added that besides increased production of car and cement
manufacturing, first time in history of Pakistan quantum of monthly
exports remained above $ 2 billion for consecutive 7 months.
On a query about trade with India, the federal minister cleared that
Prime Minister Imran Khan has taken a principled step and directed to
explore alternate avenues for expansion of regional trade instead of
relying on bilateral trade with eastern neighbouring country as
oppressive actions of India in illegally occupied Jammu and Kashmir
could not be overlooked.
On a question about value of Rupee against US dolor Asad Umar said PTI
through its prudential policies stabilized the exchange rate and value
of dolor fallen to Rs. 152 from 168 without spending a single rupee of
foreign exchange reserves.
On a query regarding COVID-19 measures Asad Umar said that he support
decision of Sindh government for closing markets on weekends and said
that such measures were necessary to reduce the risks and keep number of
patients lower.
Economic sector vulnerable to coronavirus needed to be closed to save
precious lives as without timely measures all the sectors of economy
could suffer more, he said adding that government was cognizant of
issues being faced by business and industry particularly the labor force
due to lockdowns but every citizen has to play individual role in this
situation.
Replying to another question Asad Umar was optimistic that Pakistan
Steel Mills could be made fully operational and profitable entity and
there was no reason to shut it down. Four international companies have
expressed interest in that regard, he added.
Earlier, president FPCCI, Mian Nasir Hayat Maggo, in his welcome address
highlighted different issues being faced by business and industrial
communities and suggested to redesign and reform taxation system of
country with paradigm shift towards maximum facilitation of taxpayer.
Tax rates on imports be rationalized and FBR be made more responsive, he
suggested and added that, power sector particularly issues of
electricity sector needed special attention. He also demanded wide scale
and effective representation of trade and industry in policy making and
execution and evaluation of policies to to achieve the maximum output of
measures taken by government.
