Daily Times
April 28, 2021
An oilseeds extraction plant near CPEC’s flagship Rashakai SEZ is being established with a hefty amount of Rs. 600 million. This will be on the background of rising demand for vegetable oils in China and concessions granted to Pakistani exporters under the China-Pakistan Free Trade Agreement-II.
A report published by Gwadar Pro on Tuesday says China has eliminated tariffs on 313 major export items from Pakistan under the upgraded FTA, which also includes various seed oils. The plant is being set up by Engineer Syed Mehmood. The first-of-its-kind facility in KP shows how big opportunities have been brought about by the China-driven investment to Pakistan’s smallest and second-most deprived province. The plant will be the second one of its nature in Pakistan, an official said.