The government has notified the Special Economic Zone (SEZ) status for the Allama Iqbal Industrial City (AIIC) and allowed the sale of plots in three different SEZs including the AIIC, Hub and Bostan.
The notification was issued on Friday by Board of Investment Secretary Fareena Mazhar. The government formed three committees of the AIIC, Hub and Bostan SEZs, thereby allowing the sale of plots in the respective SEZs.
The SEZ committees shall have responsibilities to administer and enforce SEZ benefits and rules as well as ensure facilitation between the SEZ, its enterprises and the government.
BOI Chairman Atif R Bokhari expressed satisfaction over the progress on the SEZs’ development. He said “it is high time for all of us to tap the opportunities provided by the Belt and Road Initiative in the shape of industrial cooperation under the CPEC”.
He emphasised that the private sector should come forward and take the leading role in the second phase of CPEC.
The BOI secretary said the establishment of the new SEZs would help to achieve the goal of industrialisation such as investment inflow, inclusive economic development.
Published in The Express Tribune, September 12th, 2020.
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