• SEZ reforms aim to simplify processes, attract investment.
• Ground rent policy, changes in SEZ Act approved for reforms.
• 35 SEZ survey conducted to help data driven decisions.
  

ISLAMABAD: The government has introduced an 18-point action plan to improve operations and attract investment in Special Economic Zones (SEZs), as revealed during a meeting of the Board of Investment (BoI) approval committee in the federal capital on Tuesday, The news reported.

The comprehensive plan aims to address long-standing problems in SEZs and upgrade infrastructure to meet international standards.

The meeting, chaired by Federal Minister for Investment and Privatization Abdul Aleem Khan, included provincial representatives, including those from Gilgit-Baltistan.

Key decisions included approval of a new land lease policy and amendments to the SEZ Act that reduced the notice period for meetings from 21 days to seven. These measures are expected to speed up decision-making processes and spur economic growth.

A comprehensive study of the 35 SEZs has been completed, enabling data-driven decisions for their management and development.

The Investment and Privatization Minister emphasized that the survey report, now digitized, is a shared resource for provincial governments and relevant departments to use to effectively address challenges.

The Secretary of the BoI and the representatives of the provinces gave updates and shared insights on the current status of the zones. Key aspects of the plan include promoting cooperation between provinces, streamlining bureaucratic processes and improving infrastructure development to unlock the full potential of SEZs.

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 would have a positive impact on the country’s economy.

He added that the upgradation of SEZs has been done in the shortest possible time and important steps have been taken to ensure better quality in this regard.

“This digital data is a mutual asset that all stakeholders need to leverage. Regular and timely approval committee meetings are essential to resolve issues quickly. The next session is already scheduled for February,” he added.

The minister highlighted the government’s focus on simplifying processes to attract investment. “We are removing unnecessary complications to create an investor-friendly environment. Encouraging various industries in these zones will help increase foreign exchange inflows and drive rapid economic development,” he said.

With these initiatives, the government aims to make SEZs the backbone of Pakistan’s industrial growth and economic stability.

Investment-friendly policies and digital innovation are expected to play a central role in transforming SEZs into hubs of economic activity.