ISLAMABAD: Pakistani Prime Minister Shehbaz Sharif said on Wednesday that special economic zones (SEZs) which are part of the China-Pakistan Economic Corridor (CPEC) will play a vital role in the country's economic development and progress, lamenting past "delays" in projects associated with the corridor.
Pakistan has been focusing on establishing SEZs across the country in its bid to boost industrialization, enhance exports and increase employment opportunities. On Wednesday, Sharif went on an inspection visit to the Rashakai SEZ in Pakistan’s northwestern Khyber Pakhtunkhwa province.
Rashakai SEZ is part of CPEC—an integral part of China’s 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 the “Silk Road” land and sea ties to markets in the Middle East and Europe.
“Special Economic Zones (SEZ) are an important component of CPEC, capable of accelerating our economic growth & creating job opportunities.” PM Sharif said.
In a separate tweet, the prime minister said that “CPEC projects suffered delays in the past, which is criminal. No such behaviour will be tolerated now.”
