Qaiser Ahmed Sheikh Reviews Progress on CPEC Phase-II Industrial Cooperation and SEZ Development
Islamabad :- Federal Minister for Board of Investment, Qaiser Ahmed Sheikh, paid an official visit to the Project Management Unit of the CPEC Industrial Cooperation Development Project (PMU CPEC–ICDP) at the Board of Investment, to review progress on industrial cooperation and the development of Special Economic Zones (SEZs) under Phase-II of the China–Pakistan Economic Corridor (CPEC).
During the visit, the Federal Minister Qaiser Ahmed Sheikh was comprehensively briefed on Pakistan’s engagement with China under CPEC Phase-II, with particular focus on SEZ-led industrialisation and Pakistan–China business-to-business (B2B) cooperation, which form the backbone of the upgraded CPEC framework. The briefing was attended by Additional Secretary BOI Dr. Erfa Iqbal, Director General / Project Director PMU CPEC–ICDP Mehmood Tufail, Director General (SEZ) Riaz-ul-Haque, along with other senior officers of the Board of Investment.
Federal Minister Qaiser Ahmed Sheikh was apprised of the institutional mandate and coordinating role of PMU CPEC–ICDP as the dedicated execution and implementation arm of the Board of Investment for industrial cooperation under CPEC. In this regard, BOI serves as the lead Pakistani agency for the Joint Working Group (JWG) on Industrial Cooperation, with China’s National Development and Reform Commission (NDRC) as the counterpart lead agency. Since its inception in 2019, PMU CPEC–ICDP has played a pivotal role in revitalising Pakistan’s SEZ framework, increasing the number of approved SEZs from 7 to 44, including the notification of 37 new SEZs through coordinated efforts led by BOI.
Key achievements highlighted during the briefing included progress on the Karachi Industrial Park (KIP), development initiatives for the Gilgit-Baltistan SEZ, and the approval of the Land Lease Policy for BQIP, which has addressed a longstanding structural bottleneck for investors. The Federal Minister was also informed of BOI’s facilitation in ensuring the provision of utilities to SEZs, enabling their transition from planning stages to operational readiness.
The briefing further underscored BOI’s structured approach to investment promotion and investor outreach, particularly with Chinese enterprises. In this context, the Federal Minister was briefed on the Pakistan–China B2B Investment Conference held during the official visit of Prime Minister Muhammad Shehbaz Sharif to China in September 2025, which emerged as Pakistan’s largest international B2B investment engagement to date, resulting in the signing of over 160 multi-billion-dollar MoUs and joint ventures. A structured and robust follow-up mechanism is currently in place to translate these commitments into tangible investment and industrial activity.
It was further shared that the Long-Term Plan for CPEC Industrial Cooperation has been finalised and is being implemented through a structured Action Plan aligned with the transition towards CPEC 2.0, emphasising industry-led growth, export-oriented manufacturing, technology transfer, and value addition, with SEZs serving as anchor platforms.
The alignment of CPEC Industrial Cooperation with the Government of Pakistan’s “Uraan Pakistan” 5Es Framework was also highlighted, particularly in advancing exports, enhancing competitiveness, and promoting sustainable economic development through joint-venture-based industrialisation.
The Federal Minister Qaiser Ahmed Sheikh was further informed that 2026 will mark the 75th anniversary of diplomatic relations between Pakistan and China, and that PMU CPEC–ICDP has planned a series of commemorative and investment-focused initiatives during the year to further deepen bilateral industrial cooperation.
Appreciating the efforts of BOI and PMU CPEC–ICDP, the Federal Minister Qaiser Ahmed Sheikh emphasised that continuity, institutional capacity, and preservation of institutional memory are essential for sustaining momentum under CPEC Industrial Cooperation. He underscored that a coordinated, long-term approach would be critical for effective implementation of CPEC Phase-II priorities and for delivering on bilateral commitments agreed between Pakistan and China.
The Board of Investment under the leadership of Federal Minister Qaiser Ahmed Sheikh reaffirmed its strong commitment to proactive investor facilitation, policy coordination, and effective implementation of CPEC Phase-II industrial cooperation initiatives, and will continue to work closely with all federal and provincial stakeholders to ensure a predictable, transparent, and investor-friendly environment for domestic and foreign investors.
Sohail Majeed is a Special Correspondent at The Diplomatic Insight. He has twelve plus years of experience in journalism & reporting. He covers International Affairs, Diplomacy, UN, Sports, Climate Change, Economy, Technology, and Health.
