NIP to develop Special Economic Zone in federal capital

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ISLAMABAD, Aug 10 (APP):The Board of Investment (BOI) on
Thursday said National Industrial Parks (NIP) a development and
a management company would develop the planned Special Economic Zone
(SEZ) in Islamabad.
“We require around 50 acre land to develop Special Economic
Zones (SEZ) in the federal capital for providing equal
opportunity and facilities to foreign and local investors, a
Spokesman of Board of Investment (BOI) Shah Jahan told APP here.
He suggested Pakistani investors should go for joint venture
with foreign investors to learn the international best practices
of managerial skills and technology.
He said that Special Economic Zones would lead to create employment
opportunities and development in the area.
The government has identified 46 economic zones through out the
country in different regions including seven approved zones, he said.
He said, “We are committed to facilitate the foreign investors
in Special Economic Zones (SEZs).”
SEZs investors would get the facility for plant and machinery
import without customs duty in all four provinces of the country.
Three each SEZs would be established in Punjab, Sindh and
one in Khyber Pakhtunkhwa, he added.
He said that nine more Prioritized Special Economic Zones
(PSEZs) would also be established in Punjab, Sindh, Khyber
Pakhtunkhwa (KPK), Balochistan, Northern Areas and Federally
Administered Tribal Areas (FATA).
BOI spokesman said that nine prioritized industrial zone have
been proposed for high tech industry meant to enhance the export
and employment opportunities to the people in the country.
He said the SEZ Cell had been furnished on the contemporary
corporate style and would be equipped with state-of-art facilities.
Priority of BOI was to revive the confidence of foreign
businessmen to ultimately boost foreign investment in the
country, he added.