36th (in-camera) meeting of the Parliamentary Committee on China-Pakistan Economic Corridor (CPEC) was held today at 11:00 a.m.
NATIONAL ASSEMBLY SECRETARIAT
Islamabad, the 26th May, 2021
PRESS RELEASE
36th (in-camera) meeting of the Parliamentary Committee on China-Pakistan Economic Corridor (CPEC) was held today at 11:00 a.m. in Constitution Room, Parliament House, Islamabad under the Chairmanship of Mr. Sher Ali Arbab, MNA.
2. The Committee was briefed by Additional Secretary, Ministry of Planning, Development & Special Initiatives, Secretary, Board of Investment, Secretary, M/o Communications, Member (IR), FBR, Senior Joint Secretary, M/o Commerce, regarding waiver of taxes on industries as per model extended to construction sector and updated progress on Axle Load Policy.
3. The Committee, while highlighting the importance of the second phase of China-Pakistan Economic Corridor, observed that utmost efforts were exerted to expeditiously complete the first phase of CPEC. Now Pakistan has entered into the most promising second phase of CPEC. The focus of the CPEC’s second phase is to effectively operationalize Gwadar and Special Economic Zones and set up important industries there. Given Pakistan’s weak economy we will be doomed, if these goals are not achieved. Therefore the purpose of waiver of taxes on industries as per model extended to construction sector is to incentivize industries, enhance local and foreign direct investment, generate revenue, create massive employment opportunities for local people and ultimately lead Pakistan towards the path of sustainable economic development. The Committee recommended to Federal Board of Revenue to convene a joint meeting along-with Board of Investment, Ministry of Commerce, and Ministry of Industries & Production and come up with comprehensive proposals so that industrial sector could be incentivized well in time.
4. Secretary, Ministry of Communications informed that they have requested Prime Minister Office to reconstitute the Committee for further deliberation and taking decision on the implementation of axle load policy. The Committee observed that the lack of implementation of axle load policy is causing huge damage to the road infrastructure and burden on national exchequer in form of road repair. The Committee decided to take up the issue at the highest forum so as to ensure the implementation of the law in letter and spirit.
5. The Committee expressed dissatisfaction over dilly-dallying in the process of completion of socio-economic projects under Chinese grant of USD 1 billion. The Committee recommended to provinces to effectively and timely utilize the USD 1 billion Chinese grant by undertaking those socio-economic projects which could bring value addition and sustainable impacts for improving the lives of common people.
6. The meeting was attended by Mr. Noor Alam Khan, MNA, Mr. Sadaqat Ali Khan Abbasi, MNA, Mr. Umer Aslam Khan, MNA, Ms. Nafeesa Inayatullah Khattak, MNA, Mr. Ahsan Iqbal Chaudhry, MNA, Sardar Ayaz Sadiq, MNA, Ms. Mehnaz Akber Aziz, MNA, Mr. Zahid Akram Durrani, MNA and Mr. Muhammad Aslam Bhootani, MNA.
(SAEED AHMAD MAITLA)
Secretary Committee (PC on CPEC)
