Home Economics 3 Special Economic Zones (SEZ) in Pakistan have become operational

3 Special Economic Zones (SEZ) in Pakistan have become operational

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According to the Board of Investment (BOI), three Special Economic Zones (SEZ) in the country have become operational and have started production. While by June, 2019 the remaining six will be rationalized as well. SEZs are a source of employment and development.

Karachi, Faisalabad and Haripur have sold their land as well as their operational for production for last three months. Islamabad SEZ will be planned and developed by the National Industrial Parks Company (NIP).

A BOI official commented, “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. Also, 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.”

Furthermore, the BOI official also suggested Pakistani investors to joint venture with foreign investors to learn and experience international management skills and technology. He said that SEZ investors will be facilitated to import plant and machinery without custom duty. SEZs will be established in Sindh, Punjab and Khyber Pakhtunkhwa, three in each.