January 08, 2025 (MLN): The government has unveiled an 18-point action plan aimed at streamlining operations and attracting investment in Special Economic Zones (SEZs).

The plan was introduced during a meeting of the Board of Investment’s (BoI) Approval Committee yesterday, marking a significant move toward enhancing the country’s economic growth.

The action plan seeks to resolve outstanding issues within the SEZs and upgrade facilities to meet international standards., according to the press release.

The Approval Committee, with provincial representatives including those from Gilgit-Baltistan, approved a new Land Lease Policy and revised the SEZ Act to reduce the notice period for meetings from 21 days to seven.

These changes are designed to expedite decision-making and stimulate economic growth.

A comprehensive survey of the 35 SEZs has been finalized, enabling data-driven decisions for their management and development.

The investment and privatization Minister emphasized that the now-digitized survey report is a shared resource that provincial governments and relevant departments must use to address challenges more efficiently.

The BoI secretary and representatives from the provinces provided updates and shared insights on the current state of the zones.

Key elements of the plan focus on promoting inter-provincial collaboration, simplifying bureaucratic procedures, and improving infrastructure development to fully realize the potential of SEZs.

Aleem Khan stated that the completion of the survey of 35 industrial zones across the country, along with the identification and resolution of their issues, marks significant progress and a major achievement that will positively impact the country's economy.

He added that the upgradation of SEZs has been completed in the shortest time possible, with key steps taken to ensure improved quality.

He stated this digital data is a shared asset that all stakeholders must utilize.

Regular and prompt meetings of the Approval Committee are essential for resolving issues quickly.

The next session has already been set for February.

The minister highlighted the government’s focus on simplifying processes to attract investments. 

“We are removing unnecessary complications to create an investor-friendly environment.

Encouraging diverse industries in these zones will help boost foreign exchange inflows and drive rapid economic development,” he said.

Federal Minister for Investment and Privatisation Abdul Aleem Khan chaired the meeting.

Through these initiatives, the government aims to position SEZs as the cornerstone of Pakistan's industrial growth and economic stability.

Investment-friendly policies and digital innovation are expected to be key drivers in transforming SEZs into centers of economic activity.

Copyright Mettis Link News

Posted on: 2025-01-08T10:23:25+05:00