ISLAMABAD: The Senate Standing Committee on Planning has been told that circular debts have prevented Chinese companies investing in energy projects from paying 1.2 billion dollars.
Special Assistant to the Prime Minister for CPEC Affairs Khalid Mansoor said that Chinese companies are not happy and have stopped further investment.
A meeting of the Senate Standing Committee on Planning was held under the chairmanship of Senator Saleem Mandviwala. Holding tax on profits of Chinese investors has been increased from 7.5 per cent to 25 per cent.
He said that industry could be established in the country with Chinese investment. In order to bring in Chinese investment, the problems of local investors will have to be solved immediately. The big Chinese companies are in Pakistan and if their problems are solved, they will invest immediately.
Committee Chairman Saleem Mandviwala said that China is not satisfied with the progress of CPEC.
The Chinese Ambassador told me that nothing has happened on CPEC in the last three years. Khalid Mansoor said that Chinese companies are satisfied with the pace of government departments and their work. Are not. Not satisfied with the pace of work in Gwadar Marketing is needed to bring industry to Gwadar Industry will be brought to Gwadar from East China