Pakistan board of investment invites other nations to join CPEC

Construction work taking place in Pakistan's port of Gwadar on October 4, 2017. (AP/File)
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Updated 22 December 2021
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Pakistan board of investment invites other nations to join CPEC

  • CPEC is a central part to Belt and Road Initiative under which Beijing has pledged over $60 billion in Pakistan
  • The scheme links economies of Pakistan and China and underscores China’s economic ambitions in Asia and beyond

ISLAMABAD: Pakistani Board of Investment (BoI) Chairman Muhammad Azfar Ahsan has invited other nations around the world to join the multibillion-dollar China-Pakistan Economic Corridor (CPEC) infrastructure project, saying the scope of industrial cooperation under the scheme is all-inclusive and open to third-party participation.

CPEC is a central part of the Belt and Road Initiative, under which Beijing has pledged over $60 billion for infrastructure projects in Pakistan, much of it in the form of loans. The plan is part of China’s aim to forge “Silk Road” land and sea ties to markets in the Middle East and Europe.

Speaking at the CPEC Industrial Cooperation B2B Investment Conference on Tuesday, Ahsan invited businessmen from across the globe to invest in diverse sectors of Pakistan’s economy and briefed participants about various “investor-friendly” policies introduced by the government, including the electric vehicle, mobile manufacturing and construction sector policies.

“Pakistan has a liberal investment regime,” he was quoted by the Express Tribune newspaper as saying.

Ahsan told participants about the the “Pak-China B2B Investment Portal” developed to create opportunities for joint ventures between traders from the two nations and also discussed the Special Economic Zones (SEZs) being developed under CPEC, three out of the nine of which are at an advanced stage of development, namely the Allama Iqbal Industrial City in Punjab, Rashakai SEZ in Khyber-Pakhtunkhwa and Dhabeji SEZ in Sindh.

Attractive fiscal incentives being offered under SEZs include a tax-free period of 10 years and customs duty exemption on the import of capital goods for both developers and enterprises, the chairman said: “Pakistan accords top priority to the development of SEZs under CPEC.”

Board of Investment Secretary Fareena Mazhar said the government treated both local and foreign investors equally.

“There are ample opportunities for foreign investors to invest with 100% equity or joint ventures in various fields as repatriation of investment and profit has been allowed with legal protection,” she said. “There is no requirement of minimum investment for business startups.”


Pakistan’s capital police look to military expertise to build elite SWAT force

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Pakistan’s capital police look to military expertise to build elite SWAT force

  • A SWAT force is an elite, specially trained police unit that is deployed in high-risk and complex security situations
  • Islamabad police have requested attachment of two army majors, 16 SSG commandos for training of personnel

ISLAMABAD: Islamabad police have sought the assistance of Pakistan Army to help establish a Special Weapons and Tactics (SWAT) unit, an official said on Friday, as the capital police department undertakes multifaceted duties.

The development comes amid a surge in militancy in Pakistan and follows a suicide blast that killed 12 people and injured 36 others outside a district court’s complex in Islamabad’s G-11 sector in Nov. last year, prompting heightened security measures by authorities.

A SWAT force is an elite, specially trained police unit that is deployed in high-risk and complex situations that regular police are not equipped to handle. Various countries train their SWAT personnel in close-quarters combat, tactical movement and breaching, explosives handling and crisis response.

In a letter written to the Islamabad chief commissioner, Inspector General Ali Nasir Rizvi noted the capital police were performing multifaceted duties, including maintenance of law and order, crime prevention as well as security and route assignments, requesting the attachment of army personnel.

“We are establishing a SWAT [unit] and we have asked for officers from them to impart training and the National Police Academy has requested too,” he said.

The Islamabad police have inducted 200 personnel in the SWAT force that is likely to operate under the command and supervision of a senior superintendent of police, according to local media reports.

The capital police department seeks services of two army majors and 16 commandos from the military’s elite Special Services Group (SSG), according to the letter seen by Arab News. Of the 16 commandos, 10 are to be deputed at the National Police Academy.

Late last year, the Islamabad Capital Territory (ICT) administration also introduced an electronic tagging system as part of a broader effort to enhance surveillance, regulate traffic and improve record-keeping in a city that hosts the country’s main government institutions, foreign missions and diplomatic enclaves.

Under the system, vehicles are fitted with electronic tags that can be read automatically by scanners installed at checkpoints across the capital, allowing authorities to identify unregistered vehicles without manual inspections.