The National Assembly Standing Committee on Board of Investment (BOI) was informed on Tuesday that $820 million planned infrastructure investment in Special Economic Zones (SEZs) would be completed within two years.
The committee appreciated the efforts of the ministry to encourage business activities in Special Economic Zones (SEZs) by giving incentives in terms of exemption on import duty of machinery and tax exemption for 10 years in order to bring foreign investment into the country.
The meeting of the Standing Committee was held under the Chairmanship of MNA Dr. Zulfiqar Bhatti. The Secretary, Board of Investment briefly apprised the committee about the steps taken to improve business activities in SEZs.
He said that the government has formulated uniform policies for both public and private sectors and declared 9 sites for China-Pakistan Economic Corridor (CPEC) SEZs. The committee directed BOI to establish training institutes in SEZs for the training of labor, and skilled persons as it was found that language barriers create hurdles in communication.