ICCI demands similar concessions for other industrial estates. PHOTO: AFP
ISLAMABAD: The Islamabad Chamber of Commerce and Industry (ICCI), while welcoming the grant of Special Economic Zone (SEZ) status to the Hattar Industrial Estate in Khyber-Pakhtunkhwa, has said that it will be helpful in attracting more investment and giving a boost to industrialisation in the area.
In a press release on Saturday, ICCI President Atif Ikram Sheikh said the Hattar Industrial Estate was on a strategic location along the route of the China-Pakistan Economic Corridor in Haripur and the SEZ status would go a long way in promoting exports from the region to Afghanistan, China and Central Asian countries.
He said the industries operating in the newly declared Hattar Economic Zone (HEZ) would get immediate access to high-quality infrastructure, uninterrupted power supply, public facilities and support services and enjoy simpler business rules and accelerated administration.
These concessions will lead to creation of plenty of new jobs, promotion of investment and establishment of many new industrial units in the area as the HEZ would get 10-year income tax holiday and offer one-time duty-free import of capital goods to all the industrialists investing in the zone.
He pointed out that it was for the first time that an industrial estate in K-P had been given the SEZ status and praised efforts of the K-P Economic Zones Development and Management Company for achieving the milestone.
“The SEZ status has provided great opportunity for local and foreign investors to enhance investment in the HEZ and achieve lucrative results,” he added.
Sheikh also praised the Board of Investment’s decision to grant the SEZ status to three industrial estates in Punjab including the Quaid-e-Azam Apparel Park, M3 Industrial City and Value Addition City.
Published in The Express Tribune, June 12th, 2016.
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