BOI finalizes package for rapid industrialisation

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In order to boost rapid industrialisation, the Board of Investment (BOI) is poised to unveil an incentive package for it very soon. The primary aim of this package is to enable the relocation of industries into sixteen special economic zones (SEZs), especially those from China.

A law aimed at SEZs had earlier been enacted by the Parliament in 2012, which outlined the structure of governing these areas and permitted both the provincial and federal governments to build them under different administrative frameworks.

The draft policy has been shared with all stakeholders to seek their feedback. The official said that this will also be provided to the Chinese technical team once their plan to visit is finalised.

This draft policy has been given the name of SEZ Plus and will be focused on enabling the easy relocation of industries, the official stated.

As per this proposed policy, only environment-friendly industries will receive authorization to be relocated and the plan is to bring all provincial and federal regulators under one umbrella. This policy intends to encourage the government to give subsidy on inland freight from port to destination and markup support.

This package will be available to investors of all nationalities and citizenships and will be on an MFN basis, the official concluded.