Islamabad: A high-level meeting of the Approval Committee for Special Economic Zones (SEZs) took place under the leadership of Federal Minister for Privatisation, Communication, and Board of Investment, Mr. Abdul Aleem Khan. The gathering focused on eight crucial agenda items aimed at enhancing the operational efficiency of SEZs to foster industrial development and economic growth.

According to Press Information Department, the meeting included a comprehensive survey of 35 SEZs, resulting in 18 recommendations to improve operational frameworks. Mr. Khan highlighted the survey’s role in providing essential data for optimizing the Board of Investment’s functions, enabling better analysis and decision-making. Discussions included amendments to SEZ Rules 2013, proposing a reduction of the statutory notice period from 21 to 7 days, and the removal of Amendment 2e from Annexure 1 to streamline processes.

The committee approved a “Land Lease Policy” for SEZs and reviewed 14 development agreements that await board comments. Mr. Khan emphasized the significance of encouraging local investment and creating a business-friendly environment to stimulate economic growth. He directed the committee to meet more frequently, at least monthly, to expedite decisions and support investors. Additionally, he recognized the importance of foreign investment in contributing to Pakistan’s prosperity.

Mr. Khan reiterated the government’s commitment to aligning with the Prime Minister’s vision for business stabilization and development, ensuring the Board of Investment’s efforts are in line with national economic goals. The meeting concluded with directives to implement the 18-point SEZ recommendations promptly, aiming for these zones to play a pivotal role in the nation’s economic advancement.