CPEC has opened new avenues for development and investment: Punjab Transport Minister
LAHORE, Feb. 10 (Gwadar Pro) - China-Pakistan Economic Corridor (CPEC) has opened new avenues for development and investment, Punjab Provincial Minister for Transport Jahanzeb Khan Khitchi said on Wednesday afternoon.
Addressing the ‘Public-Private Dialogue’ organized for the development and promotion of the transport sector at ‘90 Shahrah-e-Quaid-e-Azam (SQA)’ here, Jahanzeb Khan Khitchi urged the investors to benefit from China-Pakistan Economic Corridor and brighten their future.
“The foreign and local investors should take full advantage of China-Pakistan Economic Corridor. This (CPEC) has changed the whole economic atmosphere,” Jahanzeb Khan Khitchi mentioned.
The minister added, “At the same time, China-Pakistan Economic Corridor had opened new avenues for development and investment and local investors should take full advantage of it.”
Jahanzeb Khan Khitchi contended that the government had promoted a business-friendly environment for investors and they had been provided investment facilities under one window.
The Provincial Minister informed that the proposal of setting up of Punjab Road Safety Authority had been sent to the cabinet for approval as the government was striving to resolve the problems of transporters on a priority.
Jahanzeb Khan Khitchi noted that the transport sector was a key sector in the development and prosperity of the country. “There are vast investment opportunities in the transport sector of Punjab. The supply of buses, trucks, trailers, bus stands, truck stands, and vehicle fitness are some of the lucrative areas for investment. The government welcomes private investors in the province and facilities would be provided to them,” Jahanzeb Khan Khitchi underscored.
Jahanzeb Khan Khitchi said the Punjab government was keen in promoting eco-friendly transport for the prevention of environmental pollution. “We have also launched the country's first electric vehicle policy and stakeholders' suggestions and experiences would be valuable to provide affordable transportation to commuters,” Jahanzeb Khan Khitchi elaborated.
The investors, Jahanzeb Khan Khitchi observed, could benefit from the option of construction of bus terminals including commercial complexes on lands allotted by Punjab Transport Company.
“The Transport department's Vehicle Inspection and Certification System's scope would be extended to include private vehicles as well,” Jahanzeb Khan Khitchi underlined.
Jahanzeb Khan Khitchi said the proposals that had emerged from the session for providing world-class travel facilities in the transport sector were significant.
Jahanzeb Khan Khitchi opined that the launch of the new transport system would change the transport culture of the province, adding that a facility center had been set up in the Chief Minister’s office to assist investors.
Jahanzeb Khan Khitchi reiterated his commitment to providing all possible facilities to foreign investors in Punjab. He further said that foreign investment was being encouraged in the transport sector.
The event was attended by Chairman Punjab Board of Investment and Trade Fazil Asif, private operators and investors associated with the transport sector.
Speaking on the occasion, Punjab Board of Investment and Trade's Chairman Fazil Asif mention stressed that the government wanted to improve all important sectors for economic stability.