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Arbab for including electric traction component in ML-1 project

Islamabad   –  Parliamentary Committee on China-Pakistan Economic Corridor (CPEC) Chairman Wednesday observed that electric traction (E.T) component should be added in ML-1 project as this option would not only be environmental friendly but also ensure cost reduction in future. While presiding over the 27th meeting of the Parliamentary Committee on CPEC Chairman Sher Ali Arbab remarked that we will have to pursue futuristic approach while proposing future projects and implementing existing projects under CPEC framework. The Committee was briefed by Secretary, M/o Industries and Production, Secretary, M/o National Food Security & Research, Chairman, Pakistan Agricultural Research Council, Additional Secretary, M/o Planning, Development and Special Initiatives regarding issues, challenges and way forward on industrialization in Pakistan and on all initiatives pertaining to socio-economic development. Moreover, in order to seek compliance over previous recommendations of the Committee, the meeting was also attended by Secretary, M/o Maritime Affairs, Secretary, Board of Investment, Special Secretary, M/o Commerce, Additional Secretary, M/o Railways, Additional Secretary, Economic Affairs Division, Managing Director, NTDC, Project Director, New Gwadar International Airport, Additional Secretary (E&P) KP, CEO, KP (BOIT) Chief Economist P&DD (Sindh) and Chief Economist, Punjab. In this regard, Chair observed that E.T component should be added in ML-1 project as this option would not only be environmental friendly but also ensure cost reduction in future.  Secretary, M/o Industries and Production gave detailed presentation over the issues faced by industrial sector and the steps taken to improve the industrialization in Pakistan. Secretary briefed the industries having competitive advantage are being provided special incentives by reducing tariffs on electricity. Resultantly, the textile and leather industries are currently running at their full potential. These industries have generated greater employment opportunities during precarious environment created by Coronavirus pandemic. Chairman of the committee remarked, CPEC is gateway to economic progress and prosperity and industrial sector is lynchpin of CPEC.  Dwindling economy of Pakistan will not thrive unless the bottlenecks of industrial sector are removed. Moreover, there is an exigency of establishing the strongest coordination among all the concerned dealing with industrial sector so that value addition in our local products could be ensured, the small and medium enterprises could be strengthened in Pakistan and exports could be maximised.

 

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