Islamabad Online): Pakistan Economy Watch (PEW) has said that business community has started raising questions about impact of CPEC on local industry.
\nIn the press release issued by Pakistan Economic Watch on Sunday , the Presiednet of PEW Dr Murtaza Mughal has said that government has allowed import of all the machinery and other equipment without any duty and taxes for the project which has put local industry on disadvantage that is against the national interests, it said.
\nHe said that cost of doing business is very high in Pakistan therefore locally produced goods cannot compete with the goods imported without any duty and taxes leaving local manufacturers high and dry.
\nIn this scenario, he maintained, local heavy and cottage industry is not getting benefit of the 46 billion dollar investment which is impeding industrial expansion, revenue and job creation.
\nHe said that government should review the arrangements for CPEC so that it can contribute in the industrial expansion in Pakistan as a lot of industrialists have started preferring trading due to difficult environment which is a threat to the economy.
\nThe business leader said that during their long rule, the British made thousands of miles of rod and rail network, bridges, educational institutions, hospitals, largest river system and airports etc. but their objective was not to benefit masses but to prolong their rule.
\nAfter independence, many governments have failed to design projects keeping benefit of masses in the mind that is one of the reason behind opposition to the mega projects, he added.
\nHe said that many people in Pakistan dubs CPEC as a gift while Chinese companies term it a business deal beneficial for the both nations.
\nDr Mughal said that government should consider reservations of the business community and keep interests of masses supreme in all the projects.<\/p>\n","protected":false},"excerpt":{"rendered":"
Islamabad Online): Pakistan Economy Watch (PEW) has said that business community has started raising questions about impact of CPEC on local industry. In the press release issued by Pakistan Economic Watch on Sunday , the Presiednet of PEW Dr Murtaza Mughal has said that government has allowed import of all the machinery and other equipment […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-5324","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-business"},"yoast_head":"\n