Investment Minister chairs SEZs approval committee meeting

ISLAMABAD ( WNAM REPORT): The 9th meeting of the Approval Committee of Board of Investment was held under the chairmanship of Federal Minister for Board of Investment, Privatization & Communications Abdul Aleem Khan in which provincial Governments including Gilgit Baltistan were represented. This meeting took important decisions regarding Special Economic Zones including approval of the Land Lease Policy. Furthermore, it was decided to amend the Special Economic Zones Act and reduce the notice period for convening the meeting from 21 to 7 days so that important initiatives for these Zones can be completed without any delay.
Federal Minister for Board of Investment Abdul Aleem Khan, said that the completion of the survey of 35 industrial Zones across the country, identification and resolution of their problems is a great progress and an important achievement that will have a positive impact on the country’s economy, as well. He added that the up gradation of Special Economic Zones has been done in the shortest possible time and important steps have been taken to ensure better quality in this regard. Federal Minister Abdul Aleem Khan directed that all the provincial Governments and relevant departments should be sent this survey report of Special Economic Zones. He indicated that now digital data of these industrial Zones is available which is mutual property and all relevant institutions must get benefit out of it. He said that it is very important to hold regular and timely meetings of the Approval Committee of Board of Investment to resolve matters quickly so the next meeting of this Committee should be convened again in February. Federal Minister for Board of Investment Abdul Aleem Khan said that all matters related to Special Economic Zones have been completely updated which is in line with the current requirements and standard facilities which have been provided, there. Investment from other countries in these Special Economic Zones equipped with latest facilities will enable rapid economic development, Abdul Aleem Khan added. He said that instead of unnecessary complications we have to create conveniences to increase investment in the country for which we will encourage all kinds of industries in these Special Economic Zones so that maximum foreign exchange can be added in the country.
In the meeting of the Approval Committee, the participants discussed positively on the outstanding issues, deliberated on the current situation of the Special Economic Zones and presented an 18-point action plan. Secretary Board of Investment and senior officers from different provinces gave a detailed briefing on the Special Economic Zones and departmental matters.