ISLAMABAD: The federal government is pushing for expedited completion of formalities to launch two special economic zones (SEZs) — one each at Islamabad and Port Qasim, Karachi — this year under the China-Pakistan Economic Corridor (CPEC).
“We want to present the federal SEZs as models for Chinese investment so that the two zones take off during the current year,” a senior government official told Dawn on Tuesday. The top priority of the federal government is to ensure that CPEC physically enters the next stage of industrial cooperation this year.
He said the Board of Investment (BoI) as the federal government’s lead agency for foreign investment was holding meetings on a daily basis with National Industrial Parks Development and Management Company and Capital Development Authority for finalisation of all legal and procedural requirements for Port Qasim and Islamabad industrial zones.
The economic zones will be used as model for provinces to replicate
He said the zones would be given a shape that could be followed by the provincial governments in development of their respective SEZs. Around 1,500 acres of land out of Pakistan Steel Mills had already been identified and earmarked for Port Qasim SEZ but its pricing has to be approved by the PSM board of directors in its coming meeting