52% Land Across All SEZs in Pakistan Reserved for Investors
According to media reports, the federal government has granted 52% of Special Economic Zones (SEZ) land to investors for the establishment of industries in Islamabad.
Out of the total 10,029.64 acres given to 21 SEZs, 5,220.62 acres would be used by investors to establish industries worth PKR 633.9 billion, while 1.73 billion acres will be used for Foreign Direct Investment (FDI) components.
Currently, 22 SEZs have been approved and 21 have been notified by the Board of Investment (BOI), including the establishment of the Science and Technology Park by the National University of Science & Technology (NUST) Islamabad, three private SEZs, and four SEZs under the flagship project of China Pakistan Economic Corridor (CPEC).
At the sixth meeting of Pakistan’s Joint Cooperation Committee (JCC) on CPEC, it was decided to establish nine Special Economic Zones (SEZs), seven provincial and two federal, as part of CPEC Industrial Cooperation (IC) in Pakistan.
The Board of Approvals approved Allama Iqbal Industrial City in Punjab, Raskakai SEZ in Khyber Pakhtunkhwa (KP), Bostan SEZ in Balochistan, and Dhabeji SEZ in Sindh.
Reportedly, these SEZs are in various stages of development. To expedite progress, the federal government has earmarked PKR 4 billion for the Federal PSDP for FY2021.
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