Special Economic Zones to be completed on Fast Track: Ahsan Iqbal

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Islamabad, October 06, 2017: Minister for Interior and Planning, Development & Reform, Ahsan Iqbal has maintained that it should be a matter of deep concerns for all stakeholders if the progress on development of economic zones under China Pakistan Economic Corridor (CPEC) is not made within the scheduled timeframe, instructing for ensuring tangible outcomes of Pak-China industrial cooperation.

He expressed these views while chairing a meeting to review progress on Special Economic Zones (SEZs) at Islamabad. The meeting was attended by senior officials form line ministries and provincial governments. On this occasion, the provincial authorities briefed the meeting about their respective SEZs.

Minister Ahsan Iqbal directed all stakeholders to fast track the development of SEZs, complete land acquisition process and feasibilities. He instructed the line ministries and provincial governments to ensure concrete measures for provision of electricity, gas and other facilities to these SEZs.

“We need to transform these SEZs into an attractive destination for foreign investment”, said Ahsan Iqbal, instructing provinces to finalize their incentives plan for SEZs, in addition to the incentives already announced by the federal government.

The zone authorities should create a competitive environment for making this cooperation, a truly successful one, said Ahsan Iqbal, emphasizing further to develop these zones on the basis of feasibly studies and locally available resources.

Minister Ahsan Iqbal further said that a model and smart industrial park be developed in Islamabad Capital Territory with consultation of Islamabad and Rawalpindi Chamber of Commerce.

The Federal Minister further instructed the provinces to opt for best and feasible financing model, ensuring maximum benefits from relocation of labor intensive industries from China to Asia and subsequent recreation of 85 million jobs.
Ahsan Iqbal underlined need of vibrant Board of Investment and asked the officials of BOI to prepare reform package in accordance with prevailing needs and circumstances.
During the meeting, BOI officials briefed the participants regarding the visit of Chinese SEZs experts’ group, scheduled in the second week of October. The experts would conduct training workshops besides holding meeting with Pakistan’s experts on industrial development sector.

Ahsan Iqbal instructed that all efforts be made to conduct meaningful workshops and meetings during the visit of Chinese Expert Group. He further issued instruction to undertake determined efforts regarding industrial cooperation for bringing out tangible outcomes prior to 7th JCC Meeting.

Posted on: 2017-10-06T20:10:00+05:00

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