- The SEZ reforms aim to simplify processes and attract investments.
- Land leasing policy, amendments to SEZ Act approved for reforms.
- Survey of 35 SEZs completed to help make data-driven decisions.
ISLAMABAD: The government has introduced an 18-point action plan to improve operations and attract investments in Special Economic Zones (SEZs), as revealed during a Board of Investment (BoI) Approval Committee meeting in the capital federal on Tuesday. The news reported.
The comprehensive plan aims to resolve long-standing issues in SEZs and improve infrastructure to meet international standards.
The meeting, chaired by Federal Minister for Investment and Privatization Abdul Aleem Khan, included provincial representatives, including those from Gilgit-Baltistan.
Key decisions included the approval of a new Land Leasing Policy and amendments to the SEZ Act, reducing the notice period for meetings from 21 days to seven. These measures are expected to speed up decision-making processes and stimulate economic growth.
An exhaustive study of the 35 SEZs has been completed, allowing data-based decisions to be made for their management and development.
The Minister of Investment and Privatization emphasized that the survey report, now digitized, is a shared resource that provincial governments and relevant departments must use to resolve challenges efficiently.
The BoI Secretary and provincial representatives provided updates and shared insights on the current status of the zones. Key aspects of the plan include fostering inter-provincial collaboration, streamlining bureaucratic processes and improving infrastructure development to unlock the full potential of SEZs.
Aleem Khan said that the completion of the study of 35 industrial zones across the country, identification and resolution of their problems is a great progress and an important achievement that would have a positive impact on the country’s economy.
He added that the improvement of SEZs has been carried out in the shortest possible time and important measures have been taken to ensure better quality in this regard.
“This digital data is a mutual asset that all stakeholders must leverage. Regular and timely Approval Committee meetings are crucial to addressing issues quickly. The next session is already scheduled for February,” he added.
The minister highlighted the government’s focus on simplifying processes to attract investments. “We are removing unnecessary complications to create an investor-friendly environment. Promoting various industries in these areas will help boost foreign exchange inflows and drive rapid economic development,” he said.
With these initiatives, the government aims to make SEZs the backbone of industrial growth and economic stability of Pakistan.
Pro-investment policies and digital innovation are expected to play a critical role in transforming SEZs into hubs of economic activity.
