The federal government on Wednesday gave the nod to the setting up of three new special economic zones (SEZs) in Islamabad, Punjab and Sindh.
The approval was given at the 6th meeting of the Board of Approval for SEZs chaired by Prime Minister Imran Khan in Islamabad.
The three new SEZs are: the National Science and Technology Park, Islamabad; the JW-SEZ China-Pakistan SEZ, Raiwind, Punjab; and the Dhabeji SEZ, Sindh.
The premier directed the authorities concerned to ensure the provision of utilities including gas and electricity to the SEZs.
Separately, the premier also formed the Economic Outreach Apex Committee and the Economic Outreach Coordination Group for the promotion of the economic diplomacy.
According to a notification issued by the National Security Division of the Prime Minister’s Office on Wednesday, the committee -- comprising 13 ministries and headed by the prime minister – will review the country’s economic indicators, as well as set economic goals and formulate strategies to achieve them.
The committee includes all the four chief ministers, prime minister of Azad Kashmir, federal ministers for foreign affairs, science and technology and information, finance and the prime minister’s advisers on commerce and finance.
In addition, the special assistant to the prime minister on national security has been appointed as the convener of the Economic Outreach Coordination Group, which also includes the chief secretaries and federal secretaries. The group will present an effective action plan to improve the country’s economy.
A number of SEZs planned under CPEC are meant to attract Chinese investors, who would relocate their manufacturing establishments to Pakistan to move closer to the growing Pakistani middle-class urban consumer base and the thriving export markets of Middle East and North Africa. In return, Pakistan would get investments and jobs, ushering in a new era of industrialisation.
Apart from Gwadar Free Zone, a total of nine SEZs are planned under CPEC, including the three priority SEZs in Sindh, Punjab and Khyber-Pakhtunkhwa: Dhabeji SEZ, Allama Iqbal Industrial City, and Rashakai Economic Zone.
Under the SEZ Act 2012, while the federal government is responsible for according approvals and providing utilities, the provincial governments are responsible for developing the zones. The three provincial governments have adopted different approaches for their respective SEZs.
(With input from APP)
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