ISLAMABAD: Board of Investment (BoI) Chairman Haroon Sharif Wednesday said the government is focusing to improve governance, provision of sufficient basic utilities and rationalization of land prices to ensure establishment of an efficient industrial base in Pakistan. He expressed these views, while chairing the 5th meeting of approvals committee of Special Economic Zones (SEZs) at the BoI.
Executive Director General BoI, Fareena Mazhar, Director General China Pakistan Economic Corridor (CPEC), Syed Hamid Ali and representatives from Punjab Industrial Estates Development and Management Company, National Industrial Parks Development and Management Company, Provincial Boards of Investment and Trade, PARCO, and SEZ Developers were also present on this occasion, a BoI statement said.
The BoI chairman said the government has carried out a detail analysis and it is focusing to revive the existing seven SEZs. “Time bound plans for utility provisions are being finalized to address the major obstacle that hinders progress of these SEZs”, he added. Sharif underscored that those prices of land for industrialization is a major issue as most of the zones are becoming a real state project. He intimated that the approach is being discouraged, and policy revision would be made to introduce best models. He asked the provinces to plan out the best competitive models for industrial development concerning the SEZs, aligned with the federal government priorities.
The chairman vowed that BoI will fully cooperate and ensure efficient policy formulations at high level. Syed Hamid Ali briefed the committee on the observations of the BoI relating to the seven applications for SEZs.
The committee directed the developers of the seven applications including Rahim Yar Khan Industrial Estate, Bhalwal Industrial Estate, Vehari Industrial Estate, Rachna Industrial Park, Oil Village SEZ, Roshan Sun Tao Paper Mills Pvt Ltd, and Zaamin Industrial Park to address the observations raised by the Board of Investment.
Khyber Pakhtunkhwa government representative informed that the provincial cabinet has approved Concession Agreement of Rashakai SEZ and same will be submitted on April 16, to the BoI after endorsement of Public-Private Partnership Board of Khyber Pakhtunkhwa.
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