ISLAMABAD, Pakistan: The federal government has identified 46 Special Economic Zones (SEZs) throughout the Country in different regions including seven approved zones, said the Board of Investment (BOI) Spokesman Shah Jahan.
“We are committed to facilitate the foreign investors in Special Economic Zones (SEZs), the Shah Jahan said while talking to the state-run news agency in Islamabad on Monday.
The BOI Spokesman said three each SEZs would be established in Punjab, Sindh and one in Khyber Pakhtunkhwa.
Shah Jahan said around 50 acre land required to develop SEZ in the Federal Capital for providing equal opportunity and facilities to foreign and local investors. He said National Industrial Parks (NIP) would develop the planned SEZ in Islamabad.
The Spokesman said SEZs investors would get the facility for plant and machinery import without customs duty in all four provinces of the Country. He said the SEZ Cell had been furnished on the contemporary corporate style and would be equipped with state-of-art facilities.
The BOI Spokesman said after the business activities in SEZs, employment opportunities and export to foreign countries would be increased.
Shah Jahan suggested Pakistani investors should go for joint venture with foreign investors to learn the international best practices of managerial skills and technology. He said SEZs would lead to create employment opportunities and development in the area.
Moreover, he said BOI was prioritizing to provide ease of doing business for enhancing the industrial cooperation with foreign Countries in SEZs.
“We are committed for smart regulation, simplified procedure and competitive costs in consultation with ministry of finance and related institutions for providing facilities in SEZs” the BOI Spokesman said.
The Spokesman of BOI said the board was working on reform agenda for smart regulation for providing conducive environment for investors in the Country. He said through these reforms, industrialization would promote and maintain trade balance in the Country.
