AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Karachi, The United Business Group (UBG) has called for the swift initiation of the second phase of the China-Pakistan Economic Corridor (CPEC), proposing the launch of five special industrial zones to boost Pakistan’s economic growth. The group’s leadership emphasizes the critical need for these developments to sustain the momentum of the CPEC initiative.
According to United Business Group, the leaders including SM Tanveer, Zubair Tufail, Khalid Tawab, Hanif Gohar, and Syed Mazher A Nasir, have articulated the urgency of transitioning into the next phase of CPEC. They advocate for the establishment of a new working group aimed at creating five economic corridors under the Five Es framework: export, energy, equity, environment, and e-Pakistan. This strategic alignment is envisioned to enhance job creation, innovation, green energy production, and inclusive regional development.
UBG’s proposal includes a “One plus Fourâ€� model for the special economic zones (SEZs), which involves collaboration between each SEZ in Pakistan and a corresponding province in China, an industry group, a zone from China for technical guidance, and a state-owned enterprise to lead the development. This model aims to foster specialized clusters within the SEZs, thereby increasing their competitiveness and appeal.
Additionally, the UBG emphasizes the importance of regional connectivity and infrastructure projects like the Gwadar Port and the M-8 motorway, which are seen as vital to enhancing trade links and regional integration. The group calls upon the planning ministry of Pakistan and the National Development and Reform Commission (NDRC) of China to draft detailed concept papers for each sector, providing a clear roadmap for future development.
In conclusion, the UBG asserts its support for CPEC’s second phase, stressing that these initiatives are crucial for Pakistan’s economic advancement and the successful realization of the corridor’s potential benefits.
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