ISLAMABAD: The Board of Investment (BoI) has approved a new Land Lease Policy for the establishment of special economic zones (SEZs) and an action plan aimed at streamlining operations in these zones.
The BoI Approval Committee, led by Investment and Privatisation Minister Abdul Aleem Khan, met on Tuesday and was briefed on the completion of a survey of 35 industrial zones across the country. The survey aimed to identify the main obstacles to industrialisation and infrastructure development, assess the availability of utilities, and verify the status of land ownership for each allocated plot. The data collected provides an accurate overview of the state of enterprises and development in these zones.
Minister Aleem Khan emphasized the significance of resolving the issues surrounding industrial zone development and assured that the survey findings would be shared with provincial governments and relevant departments. He highlighted that these efforts would positively impact the country’s economic growth.
The meeting also agreed to amend the Special Economic Zones Act to allow the Approval Committee to meet more frequently, with a minimum gap of seven days between meetings, to expedite decision-making and resolve issues more efficiently.
The minister further noted that the upgrade of SEZs has been completed quickly, with steps taken to ensure higher quality standards in the zones. He also stated that the digital data collected from this process should be shared among all relevant institutions to maximize its benefits.
With all SEZ-related matters updated to align with modern needs, the minister emphasized that the countryβs industrial zones are now better equipped to meet current standards and requirements.
