The Special Investment Facilitation Council (SIFC) has instructed the Board of Investment (BoI) to formulate a comprehensive framework for Special Economic Zones (SEZs) to meet international standards. The proposed model aims to integrate modern infrastructure, including healthcare, education, residential areas, and foreign enclaves, similar to next-generation SEZs in China.
During its 12th Executive Committee meeting held recently, SIFC directed the BoI to provide a timeline for consultations with all provincial chief ministers, including those of Gilgit-Baltistan and Azad Jammu and Kashmir, regarding the implementation of the SEZ optimization action plan approved in the 11th apex committee meeting. Officials present at the meeting stated that weekly sessions of the industrial cooperation and SEZ optimization working group will be held to ensure steady progress. A new framework will be developed to integrate all relevant aspects holistically.
The meeting also endorsed five SEZs that were previously agreed upon under the China-Pakistan Economic Corridor (CPEC) and Pakistan’s commitments with Iran. Additionally, an 18-point recommendation list from the SEZ survey conducted in July-August 2024 has been shared with provinces for implementation.
The approval committee confirmed the land lease policy for the Balochistan Special Economic Zone (BQIP) in line with the decisions made in the 11th apex committee meeting and directed the formulation of policies for other SEZs under existing laws after consultation with relevant stakeholders.
The BoI reported that it has already approved the land lease policy for SEZs and an action plan to streamline their development. The approval committee also informed the SIFC that a survey covering 35 industrial zones nationwide has been completed.
