Talks with CMs & AJK PM: SIFC EC tells BoI to share SEZs action plan timeline

ISLAMABAD: The Executive Committee of Special Investment Facilitation Council (SIFC) has directed the Board of Investment (BoI) to communicate timeline to the SIFC for finalization of consultation with all Chief Ministers including Gilgit Baltistan and Prime Minister, AJ&K regarding implementation of the action plan on optimization of Special Economic Zones (SEZs) approved by the 11th Apex Committee meeting, sources told Business Recorder.

At a recent meeting of Executive Committee of the SIFC, Additional Secretary Board of Investment stated that the 9th meeting of the Approvals Committee for SEZs was held under the chairmanship of Federal Minister for Investment on January 7, 2025 during which the following decisions were taken: (i) 18-Point recommendations of the SEZ Survey held in July-August 2024 have been shared with provinces for implementation; (ii) approval committee endorsed the land lease policy for BQIP in the light of 11th ACM and formulation of policy for other SEZs as per SEZs law, after consulting provinces/stakeholders; and (iii) 5 SEZs, previously agreed under CPEC and 1 with Iran, are approved in principle being international commitments; and (iv) BoI, being the secretariat for SEZs, to devise a guiding framework for SEZS, with new parameters, involving self-contained facilities including health education, residence and foreign enclave for development of new generation SEZs as being developed by China.

Special Economic Zones: Entities asked to address issues facing investors

The sources said, the issues concerning SEZs came under discussion at a recent meeting of the EC of the SIFC wherein BoI was directed to communicate timeline to SIFC for finalization of consultations with all Provincial CMs, including CM GB and PM AJK, regarding implementation of the Action Plan on optimization of SEZS approved by the 11th ACM.

It was also decided that weekly meetings of already constituted Working Group on Industrial Cooperation and Optimization of SEZs would be held to expedite speedy progress on the plan.

Copyright Business Recorder, 2025