Azad Kashmir, Gilgit-Baltistan to get economic zones under CPEC

[saiyan0321]

Federal Minister for Planning Ahsan Iqbal said Sunday five to seven economic zones will be established across the country under China-Pakistan Economic Corridor.

In an interview to Radio Pakistan, the minister said that every province and region, including Gilgit-Baltistan and Azad Kashmir, will get at least one economic zone.

Ahsan Iqbal said all the provincial governments have been asked to identify the economically-feasible and attractive places for building economic zones.

To a question, the minister said Balochistan will prove as a trade corridor for the region and the locals will get maximum benefits through employment opportunities and economic growth.

To another question, Ahsan Iqbal said all the stakeholders are supporting CPEC. He added that the work on the western route of the corridor is under way on priority basis.

http://nation.com.pk/national/11-Se...it-baltistan-to-get-economic-zones-under-cpec

Hmmm this is interesting. It seems that azad Kashmir will also be getting economic zones which is very positive TBH. Azad Kashmir is part of pakistan and deserves to get a piece of CPEC.

Seven economic zones minimum.

This means

Punjab
Sindh
Kpk
Baluchistan
Gilgit baltistan

And the rest of the two being

FATA
Azad Kashmir.

Seven should be the absolute bare minimum while focus should be to construct more and more economic zones for greater development.

We have two created routes and corridors. Eastern and western. If utilized correctly both routes can be beneficial and very profitable while both routes should be interconnected along with connecting fata and azad Kashmir.

As we know that fata lies on the western border with Afghanistan so it should be linked with western corridor whilst azad Kashmir is on the east located north of punjab so the eastern corridor link should be perfect.


Again Baluchistan and gilgit are the hearts of CPEC. They should get the max development.

Let's hope for the bes .

 

[itduzz]

What is an economic zone ?

 

[Kambojaric]

What is an economic zone ?

Usually implies areas where companies pay less or no tax. This is done in order to encourage investment.

 

[Hyde]

What is an economic zone ?

this is how economic zones works in Pakistan

You offer tax free zones to foreign companies hoping they will create thousands of jobs for you. Lets say they will create 50,000 jobs for the region

They will pay nothing to the government for 5 years and retain 100% profit. The government will be happy that they reduced unemployment and still earning money from utility bills, sales tax, logistics, help boost exports and also workers income tax etc

After 5 years when the tax exemption period expires, they will go back to the government crying about another 5 years of exemption. In most cases the government will give them another deal and they will not pay any taxes for the tenure. In many cases after that period they will shut the factory and move into different economic zone established by the government under a new scheme being offered and keep avoiding paying taxes.

Its not true for eveeybody and many serious factories will continue to work there and pay taxes but I have heard too many companies does this kind of fraud

 

[X-2.]

What is an economic zone ?

A place where industrial infrastructure etc can be build and land price are minimum with less tax and other business incentives