As part of efforts to attract investment to the second phase of the China-Pakistan Economic Corridor (CPEC), the Cabinet’s Economic Coordination Committee (ECC) will take up an 11-point agenda today, including the tax to Chinese contractors of the Saindak copper-gold project and the revival of tax concessions to Chinese power producers.

The ECC, which will be chaired by Finance Minister Shaukat Tarin, will also consider a payment plan for public-sector power producers based on the model of independent power producers (IPPs) as part of the 2020 updated tariff agreements.

In 2017, MCC and state-owned Saindak Metals Ltd (SML) signed an agreement under which the Chinese company will continue to operate the Saindak copper-gold project for another five years. The lease is up for renewal on October 30th.

The two companies inked a 10-year contract in 2002, which was extended for another five years in 2012. However, the contract’s terms and conditions have been kept secret the entire time.

MCC is currently interested in bidding for Pakistan Steel Mills and is searching for new investments in the CPEC-created special economic zones (SEZs).