CPEC: PM Shehbaz lays foundation of Islamabad Economic Zone
ISLAMABAD: On Monday, PM Shehbaz Sharif set the cornerstone for the first facility of its type in the national capital, the Islamabad Model Special Economic Zone, which is part of the China-Pakistan Economic Corridor (CPEC).
The zone, which spans more than 1,000 acres of valuable industrial land near the intersection of the N-5 and the Islamabad Motorway, is anticipated to draw $2.5 billion in investments and provide 1,000 new job opportunities.
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It also attempts to support domestic industries with minimal carbon footprints.
Prime Minister Shahbaz Sharif spoke at the ceremony and acknowledged the nation’s enormous challenges. But he expressed certainty that by banding together, these difficulties could be overcome.
To ensure policy continuity and a stable economy, he underlined the significance of creating a charter for the economy.
The premier bemoaned the CPEC projects’ delays throughout the last four years of the PTI’s administration.
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Prior to the ceremony, Ahsan Iqbal, the minister of planning and development, emphasised the importance of SEZs as engines for boosting exports with the aim of reaching $100 billion in the coming years.
Additionally, he spoke of ongoing negotiations with China to share experience and guarantee the smooth running of these SEZs.
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