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"At this time, we don t have the capacity to increase tariffs or [adopt] incremental taxes, our common man is completely fed up with this inflation," Tarin said while addressing his first press conference as finance minister.
By Hamid Khan Wazir
The China-Pakistan Economic Corridor (CPEC), one of the most ambitious components of Beijing’s Belt and Road Initiative is moving fast towards Mass Industrialization because CPEC is not the name of highways or connectivity rather roads, railway tracks, and gas pipelines in the initial phase of rather they were laid down for providing a base to Mass Industrialization. The target of CPEC is not connectivity rather connectivity is needed for Industrialization. The United States in the early 1930s and the former Soviet Union in the early 50s followed this design of social development. We remember in the former Soviet Union, Industrialization was also mixed with cooperative farming under the Collectivization vision.
2021-05-05 04:05:46 GMT2021-05-05 12:05:46(Beijing Time) Xinhua English
ISLAMABAD, May 5 (Xinhua) Pakistan will start reaping the benefits of the second phase of the China-Pakistan Economic Corridor (CPEC) in the form of industrial and agricultural development and a better road connectivity, Chairman of Pakistan s CPEC Authority Asim Saleem Bajwa said.
Several roads under CPEC are in their final phase which are expected to be inaugurated in 2021 and after their completion, locals will experience a better connectivity, and business opportunities in the country will increase, Bajwa said while talking to media on Tuesday night.
Talking about the special economic zones (SEZs) being established under the framework of CPEC, the official said that they are receiving many applications from local and foreign enterprises to invest in the SEZs where the government is providing a one-window operation to facilitate the investors.
Lahore Orange Line on NAB’s radar
Anti-corruption watchdog questions tax exemptions for $1.6b project
The Executive Committee of National Economic Council had approved the project at a cost of Rs165.22 billion in May 2015 including a foreign loan of Rs103.1 billion. PHOTO: FILE
ISLAMABAD:
The National Accountability Bureau (NAB) has launched a probe into $1.6 billion Lahore Orange Line Metro project and is questioning Rs20 billion worth of tax exemptions and rationale behind including the scheme in the China-Pakistan Economic Corridor (CPEC) framework.
The Rawalpindi bureau of the anti-corruption watchdog has been verifying a complaint against the project, showed official documents.