The Pakistani government has decided to establish a business forum to ensure the maximum participation of the country's business community in the China-Pakistan Economic Corridor (CPEC) projects, Pakistani Minister of Planning, Development and Reform Khusro Bakhtiar said here Wednesday.
The minister told media that the country's Cabinet Committee on CPEC has approved to set up the CPEC Business Forum to tap the true potential of the project by enhancing industrial cooperation and involving the private sector from inside and outside the country, which would help enhance the country's exports and reduce imports.
According to the minister, the forum will include representatives from business sectors, chambers of commerce and industries, business councils and other sectors of the economy across the country.
The Pakistani government led by Prime Minister Imran Khan has shown its firm commitment to CPEC and vowed to utilize the project for job creating, revenue generation, poverty alleviation and economic development of the country.
According to a research report issued by the Association of Chartered Certified Accountants in Pakistan, CPEC has left motivational impacts on different sectors in the country through its plentiful economic benefits and opportunities and it would create around 1 million new jobs in the coming decade for the locals.
Bakhtiar further stated that the government has already working speedily on special economic zones under CPEC.
China and Pakistan have finalized arrangements to start projects in six different areas like agriculture, education, health, poverty alleviation and vocational training institutes and other livelihood area for the socio-economic development, said the minister, adding these projects will be started in the areas where people's living standard is low and economic development speed is very slow.
Pakistan has a great potential in different unexplored sectors and the Cabinet Committee on CPEC has also decided to seek Chinese help to start joint ventures for food processing, fisheries and livestock, according to the minister.