ISLAMABAD: The Board of Investment (BOI) has simplified and shortened the new companies’ registration process for facilitating the local and foreign investors to enhance the foreign investors.
“We have introduced and implemented the new laws for ease of doing business to provide a conducive business environment for investors,” a senior official of BOI told APP here on Wednesday.
Replying to a question, he said that the National Industrial Parks (NIP) and a management company would develop the planned Special Economic Zone (SEZ) in Islamabad.
“We require around 50 acres land to develop Special Economic Zones (SEZ) in the federal capital for providing equal opportunity and facilities to foreign and local investors,” he said.
The Board of Investment said that three SEZs had become operational in the country and started production while remaining six zones would be rationalized by June, 2019.
Special Economic Zones in Faisalabad, Haripur (Hattar) and Karachi sold their land and operational for production for last three months.
Three each SEZs would be established in Punjab, Sindh and one in Khyber Pakhtunkhwa, he added.
Replying to another question, he said that nine more Prioritized Special Economic Zones (PSEZs) would also be established in Punjab, Sindh, Khyber Pakhtunkhwa, Balochistan, Northern Areas and Federally Administered Tribal Areas.
The official said that nine prioritised industrial zone have been proposed for high tech industry meant to enhance the export and employment opportunities to people in the country.
Most of the above stated development programs have been in the pipeline for the last say three decades but regretfully the progress on the implementation is too marginal to worth mention.