Effects of CPEC will be achieved from establishment of SEZs'

[Yankee-stani]

ISLAMABAD (Dunya News) – Federation of Pakistan Chambers of Commerce & Industry (FPCCI) Senior Vice President Dr Mirza Ikhtiar Baig on Tuesday said that the trickle-down effects of CPEC will be achieved from Special Economic Zones (SEZs) and relocation of industries from China.

He was speaking to a seminar SEZs organized by FPCCI in collaboration with Embassy of Republic of China and Chinese Council for Promoting South-South Cooperation here on Tuesday.

Baig highlighted the special incentives allowed by the government to investors for the industries in SEZs which includes one-time exemption from duty and taxes on import of plant and machinery, five-year tax exemption during construction and development of projects, 10-year tax holidays during operation and production started by 30th June, 2020 and additional five-year tax holidays making total 20 years of tax exemption.

He stressed on the benefits of relocation of industries mainly textile from China in SEZs to benefit from Pakistan’s expertise in textile sector and local availability of raw material.

Speaking on the occasion, Board of Investment (BOI) Chairman Haroon Sharif said that the forum is organized at opportune time when there is global shift in the investment planning and activities, as the developed world is facing huge uncertainty.

He appreciated the organizers of the Forum which was attended by Vice Presidents of FPCCI Sheikh Abdul Waheed, Ijaz Khan Abbasi, Qurban Ali and leaders of the business community in ICT region prominently Shoail Altaf, Zafar Bakhtawari, Zahid Latif and Sohail Malik.

There were about 60 Chinese companies represented by their Chairmen and CEO who met Pakistani counterparts from various sectors attended the Forum.

Ambassador of China Yao Jing and the Chairman of Chinese Council for Promoting South-South Cooperation Lv. Xinhua also addressed the Forum and emphasized South-South Cooperation aimed to achieve shared economic and development goals between Pakistan and China.

They further emphasized that both countries to promote joint venture projects to achieve export-led growth in SEZs under CPEC.

 

[FuturePAF]

The Pakistani and Chinese Government should also study why Chinese companies have shifted their production to countries like Vietnam, and what Pakistan can do to provide the right environment so that companies move to Pakistan exponentially. The minimum wage in China USD $460 per month, while Pakistan is at USD $105 and continuing to decrease. Bangladesh is at USD $95 and rising. If the government can reduce the pressures on not just foreign investors but local workers it can jump starts a rise in disposable income people can spend on Chinese goods. 5 Story apartment building in the form of neighborhoods like Barcelona with their "supervilli" neighborhood plans will allow robust local service economies to form.

https://bicycledutch.files.wordpress.com/2017/11/barcelona08.jpg
https://www.theurbanist.org/2018/08...cks-change-the-grid-change-your-neighborhood/

Lowering the cost of living will allow people to spending on productive growth (education, housing, etc.), then taxes, then recreation.

https://blog.euromonitor.com/wp-content/uploads/2015/07/6a01310f54565d970c01a73e029309970d-800wi.png

In the cost breakdown, if Farms can be made to be more productive it would lower the cost of growing food and raw materials, and not just increase exports but lower the cost people spend on basic food needs.

here is an important graph to look at. If we lower the cost of living, by making public services better, and having people that need 10 million homes move to 6 storey building with a ground floor market (live in Apartments), we can build cities the right way and have growth feed itself, and sustain itself. metro bus/train lines we decrease the need for cars, people will share the common areas outside their buildings more. a more private area to park cars can be made below or in the courtyards of each building.
http://ardanaconsultants.com/wp-content/uploads/2016/03/01A.EF-ENERGETICA_illa-eficient.jpg

Barcelona is a good model to follow.

http://www.itsinternational.com/_resources/assets/inline/custom/72/95590.jpg
http://www.itsinternational.com/cat...ape-extended-mobility-ecosystems-of-tomorrow/