Three Special Economic Zones become operational

ISLAMABAD: The Board of Investment (BOI) has 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.

Special Economic Zones in Faisalabad, Haripur (Hattar) and Karachi sold their land and operational for production for last three months, a senior official of BOI told a state-run wire service.

He said National Industrial Parks (NIP) a development and a management company would develop the planned Special Economic Zone (SEZ) in Islamabad.

“We require around 50 acre land to develop Special Economic Zones (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.