ISLAMABAD - Federal Minister for Planning, Development & Reform Khusro Bakhtyar said that the industrial framework agreement with China would help move forward with relocation of Chinese industries and large scale investment in Pakistan. While chairing a meeting to review progress on Pak-China Industrial Cooperation Tuesday the federal minister directed for utility provision to first CPEC Special Economic Zone at Rashkai.

The meeting was attended by Secretary Planning Zafar Hasan, Project Director CPEC Hassan Daud, officials from Board of Investment, Ministry of Energy and Khyber Pakhtunkhwa Government. Minister for Planning, Development & Reform, on the occasion, said that an industrial cooperation framework is being signed during next Joint Cooperation Committee meeting, scheduled on December 20th, 2018 at Beijing, China. The framework would help to move forward with relocation of Chinese industries and large scale investment in Pakistan, he added.

"The 8th JCC would be foundation to ensure implementation of this important sector," the minister said. He, while highlighting importance of Special Economic Zones, maintained that the industrial parks would be developed aligned with local available resources. The government will promote such investments that help in import substitution, value addition of the products in order to help balancing Pak China trade, he added.

The minister stressed on KP Government to develop Rashkai only for industrial purposes and discourage real estate business. He reiterated that government would provide all type of utilities to Rashkai economic zone. He instructed concerned ministries to ensure provision of utilities including natural gas supply and connecting the zone with national grid to ensure power supply in line with development of this zone.

Minister asked the KP government to make all arrangements for equal participation of local investors in Rashakai zone.  Officials from and Board of Investment, the Prime Minister Office and KP Government briefed the meeting about industrial cooperation and development of Rashkai Economic Zone.