The Board of Investment (BoI) in Pakistan has greenlit the Land Lease Policy for establishing Special Economic Zones (SEZs), marking a major step towards streamlining industrial zones across the nation. Chaired by Minister of Investment and Privatisation Abdul Aleem Khan, the BoI’s Approval Committee also shared the completion of a survey spanning 35 industrial zones nationwide. This survey aimed to pinpoint the barriers hindering industrial growth, evaluate the availability of utilities, and confirm the status of land possession across various zones.
Khan emphasized that resolving the issues in industrial zones would have a significant impact on the country’s economic growth. He directed that the results of the survey be shared with provincial governments and relevant departments to ensure that all the gaps are addressed effectively.
In a move to speed up decision-making, the meeting decided to amend the Special Economic Zones Act to allow the Approval Committee to meet more frequently, shortening the gap between meetings from 21 days to just seven. The goal is to resolve issues quickly and keep the momentum going for SEZ developments.
Furthermore, the minister stressed the importance of digital data sharing and collaboration among institutions. He assured that the upgrade of SEZs has been completed swiftly and efficiently, with the infrastructure now aligning with modern standards and requirements. This marks a significant leap towards enhancing Pakistan’s industrial landscape and fostering economic growth.
NEWS DESK
PRESS UPDATE