Govt sets up CPEC authority, grants tax relief to Gwadar port

[BATMAN]

not just laundering. these companies will earn in Rupees, then buy Dollars from the local market and then send those Dollars, which already have a shortage of abroad. Get ready for more breakneck devaluations.

Who knows, may be regime will sell $ to companies on commission basis. PTI has it's eyes on the $ coming from middleast in shape of remittances.

 

[Indus Pakistan]

there wont be zero investment. this clause is idiotic. various MNCs have already invested in Pakistan in the past, absence of this clause never stopped them.

And are you happy with the aggregate investment thus far? it's fcukin peanuts compared to size of the country. If your using our past performance as a benchmark then we are doomed.

We need $100s of billions of investment so that when I walk around in UK I see Pakistan's presence not just on the headlines about terrorist incident. But I see clothing, shoes, electrical equipment, cars in my local town stamped "Made in PK".

 

[Syed1.]

One time I was working on a large public transit infrastructure project and I was walking down the line checking my design etc. There was a crane there and it had written on it in large font "Made with pride in the United States of America". It seemed such a cool way to represent your country and to exhibit its soft power.

I long for the day to see a crane, or other heavy machinery with words on it "Made with pride in the Islamic republic of Pakistan".

 

[Ahmet Pasha]

Why would you give tax break to your biggest money maker??
It's bot like you can make up for the anount through volume.

 

[Shahzaz ud din]

23 Years Tax Exemption Granted To Chinese Firm Investing In Gwadar
This decision was a step towards rearrangement of the Chinese manufacturing industry in Gwadar, and busying the local labor.
By MISHAL ALI On OCT 9, 2019
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Ali Haider Zaidi, Federal Minister for Maritime Affairs, announced that tax exemption to COPHC (China Overseas Ports Holding Company) has been granted by the government. The tax exemption has been granted for 23 years, to help in the establishment of industrial units at the Gwadar Port.

On Tuesday, Mr. Zaidi announced to a press conference that COPHC that had already been operating at Gwadar Port would get tax exemption to aid in machinery installation and other equipment at the port. The press conference was attended by Zhang Baozhong, COPHC Chief Executive Officer, and Hammad Azhar, Minister for Economic Affairs.

This decision was a step towards rearrangement of the Chinese manufacturing industry in Gwadar, and busying the local labor, Mr. Zaidi said. He further added that this step will help in boosting the economy of the country.

Oct 9, 2019
It will provide 5,000 gallons of water per day to people:
The minister continued that COPHC would also set up a desalination plant, with a total cost of Rs. 1.95 billion. This will help in providing 5,000 gallons of water per day to people. China would also build a Pak-China Technical and Vocational Training Institute in Gwadar, with a total cost of $10 million, which will create job opportunities for locals.

“About 360 students equipped with technical skills would pass out from the institute every year,” – he said.

Mr. Zaidi also told that Pak-China Friendship Hospital will be built on 68 acres of land, at a cost of $100 million, and not only that but a coal power plant for generation 300MW electricity will also be set up in Gwadar.

While addressing the issue of Gwadar Port’s link with Makran Coastal Highway, he said that ECNEC (Executive Committee of the National Economic Council) had approved of the construction of three bridges on Eastbay Expressway, to help local fishermen. 40% of the work on Eastbay Expressway has been completed, while the rest will be done in December 2020.

COPHC CEO Zhang Baozhong, the COPHC CEO, said that the tax exemption issue had been solved by the current government, the problem had been on hold for seven years. He hoped that due to the government’s business-friendly policies, foreign investment in the country would increase.

What are your views on this? Share with us in the comments bar below

 

[Syed1.]

23 years is tooooooooooooo much

 

[S.Y.A]

And are you happy with the aggregate investment thus far? it's fcukin peanuts compared to size of the country. If your using our past performance as a benchmark then we are doomed.

We need $100s of billions of investment so that when I walk around in UK I see Pakistan's presence not just on the headlines about terrorist incident. But I see clothing, shoes, electrical equipment, cars in my local town stamped "Made in PK".

LOL. you want to see Pakistani presence? that can only b done boosting exports, not by inviting leeches in the form of MNCs in who will just stamp Pakistani made stuff with their own brand and then take ALL of the profits out of the country, leaving none FOR the country.

And are you happy with the aggregate investment thus far? it's fcukin peanuts compared to size of the country. If your using our past performance as a benchmark then we are doomed.

We need $100s of billions of investment so that when I walk around in UK I see Pakistan's presence not just on the headlines about terrorist incident. But I see clothing, shoes, electrical equipment, cars in my local town stamped "Made in PK".

what is to stop these new MNCs form going down the path of our automobile, pharma and textile manufacturers? they have no duty neither an obligation under this law to reinvest the money earned. stupidity beyond stupidity.

 

[ghazi52]

Pak-China to establish 2 new JWGs under CPEC

APP

5:02 PM | March 16, 2020

Minister for Planning, Development and Special Initiatives Asad Umar on Monday said that a Memorandum of Understand (MoU) was going to be signed on Tuesday (tomorrow) in Beijing for establishment of two new Joint Working Groups under China Pakistan Economic Corridor (CPEC).

In his tweet, the minister informed that the new working groups would be formed in areas of agriculture and science and technology.

The joint working groups work under CPEC Joint Cooperation Committee (JCC) which is co-chaired by Pakistan’s Planning Minister and Chinese Vice Chairman National Development and Reform Commission (NDRC).

There are eight working groups which are already functional in a range of areas including planning, energy, transport, Special Economic Zones, international cooperation, Gwadar, security, and socio-economic development.

The agreement would be signed during a visit of a Pakistani delegation headed by President Arif Alvi which left here for Beijing on Monday.

“This is part of the broadening of CPEC from the first phase which was mainly infrastructure to a much broader economic partnership,” Asad Umar said.

He said “the MoU states that the governments of China and Pakistan believe that CPEC has entered a new stage of enrichment and expansion with increasing cooperation areas, expanding cooperation scale and growing cooperation projects”.