Islamabad: Prime Minister (PM) Imran Khan on Wednesday provided his approval to the establishment of 10 Special Economic Zones (SEZs) in Punjab, Sindh, Balochistan, and Khyber Pakhtunkhwa (KP), according to news sources.
As per the details revealed by the PM Office, five of these SEZs will be set up in Punjab (Bahawalpur, Bhalwal, Rahim Yar Khan, Vehari and Allama Iqbal SEZ), two in Sindh (Naushahro Feroz and Bhulari), two in Balochistan (Bostan and Hub) and one in Khyber Pakhtunkhwa (Rashakai).
To this effect, the premiere stated that the purpose of establishing these SEZs was to provide incentives to the country’s business community. He said that the government wanted to provide an investment-friendly environment to boost economic activity in the country.
In response, the Board of Investment (BoI) secretary stated that the government had notified the establishment of 13 SEZs in the country; adding that it was working to establish 12 such facilities in the public sector and six in the private sector.
He said that the process of amending the law to provide incentives in the SEZs had been completed. Moreover, he briefed the participants with regard to the industries expected to be included in the new special economic zones. It was decided that all the matters pertaining to the SEZs’ establishment would be resolved in consultation with the provincial governments.
To facilitate this measure, PM Khan directed the official concerned to formulate a working group comprising the planning and energy ministers, the commerce advisor and others in order to devise necessary legislations and regulations.
This working group will submit its recommendations to the PM.