Three Special Economic Zones become operational

ISLAMABAD: The Board of Investment (BOI) is committed to implement the reforms agenda for modernization of institution and enhancing foreign investment in the country.

"We want to introduce one window operation in Special Economic Zones (SEZs) to facilitate the local and foreign investors", a senior official of BOI told APP here on Monday.

He said three Special Economic Zones (SEZs) have become operational in the country and started production while remaining six zones would be rationalized by June, 2019.

Replying to a question, he said National Industrial Parks (NIP) a development and management company would develop the planned SEZ in Islamabad.

“We require around 50 acre land to develop SEZ in the federal capital for providing equal opportunity and facilities to foreign and local investors,” he said.

He suggested Pakistani investors should go for joint venture with foreign investors to learn the international best managerial skills and technology.

He said that SEZs would lead to create employment opportunities and development in the area.

The government has identified 46 economic Special and Prioritize zones across the country in different regions including seven approved Prioritize zones, he added.

He said, “We are committed to facilitate the foreign investors in SEZs.” The SEZs investors would get the facility for plant and machinery import without customs duty throughout the country.

Three each SEZs would be established in Punjab, Sindh and one in Khyber Pakhtunkhwa, he added.

Replying to a question, he said that nine more Prioritized Special Economic Zones (PSEZs) would also be established in Punjab, Sindh, Khyber Pakhtunkhwa, Balochistan, Northern Areas and Federally Administered Tribal Areas.

The official said that nine prioritized industrial zone have been proposed for high tech industry meant to enhance the export and employment opportunities to the people in the country.