18-point Plan Presented to Attract Investment in Special Economic Zones | By Ishraq A Hashmi

 

ISLAMABAD (EWN ) :The government has presented an 18-point action plan to streamline operations in Special Economic Zones (SEZs) and attract investment, which came up during the meeting of the Board of Investment (BoI) Approval Committee on Tuesday. The action plan is designed to address outstanding issues in Special Economic Zones (SEZs) and improve facilities in line with international standards. The meeting of the Board of Investment (BoI) Approval Committee was chaired by Federal Minister for Investment and Privatization Abdul Aleem Khan. Provincial representatives, including Gilgit-Baltistan, were also present in the meeting. The approval committee approved the new Lend-Lease Policy and amended the SEZ Act to reduce the notice period of the meeting from 21 days to 7 days. These changes are aimed at speeding up the decision-making process and promoting economic growth.

A comprehensive survey of 35 Special Economic Zones across the country has been completed, which will help in making data-based decisions for management and development. Federal Minister Abdul Aleem Khan, while presiding over the meeting, said that the survey report, which is now available in digital form, is a common resource for all concerned departments and provincial governments, which should be used to effectively address issues. The Secretary of the Board of Investment and senior officials of various provinces provided updates on the current status of the zones and made valuable suggestions. Key aspects of the project include promoting inter-provincial cooperation, streamlining bureaucratic processes, and developing infrastructure so that the full potential of SEZs can be utilized. Aleem Khan said that completing the survey of 35 industrial zones across the country, identifying and resolving their issues is a major step forward and a significant achievement, which will have a positive impact on the country’s economy.