Pakistani Economic Stress Watch
Posted: 02 Jan 2017 18:00
X Posted on the Analyzing CPEC & STFUP Threads
Chambers voice concern at China’s plan to ‘set up industry along CPEC route’
Chambers voice concern at China’s plan to ‘set up industry along CPEC route’
GUJRAT - Cwapistani : The three chambers of commerce and industry of what is termed as “golden industrial triangle” comprising Gujrat, Gujranwala and Sialkot cities, have expressed their grave concern over China’s reported plan of establishing industrial units and warehouses along the route of the China Pakistan Economic Corridor (CPEC).
The leadership of these three chambers has also urged the federal government to take the business community of these industrial cities in confidence about the nature of China’s planned industrial units in the country, warning of its adverse effect on local industry and apprehending that such a scenario might turn Pakistan into a purely consumer market, further weakening its own manufacturing sector.
These concerns were voiced by the presidents of the three chambers of commerce and industry, who gathered at the local chamber (GTCCI) the other day.
The meeting decided that the chambers’ presidents would also hold an exclusive meeting with Prime Minister Nawaz Sharif to share their concerns over the Chinese industrial units along the CPEC route. It regretted the government had not taken the chambers in confidence over the issue.
CheersMr Bhutta said the local manufacturers’ concerns over the CPEC’s possible effects on the local industry should be addressed forthwith, apprehending that such a situation might hit exports from these cities.