ISLAMABAD: The federal government is planning to grant the status of special economic zones (SEZs) to three locations in Punjab as part of its measures to promote investment in the country.
Three SEZs at Port Qasim, Korangi Creek (both in Karachi) and Khairpur have already been notified while a number of industrial zones from other provinces are in the process of being labelled as SEZs at the Board of Investment (BoI).
The BoI has established a dedicated cell at its head office to facilitate and support Pakistani diaspora in making investments in the country while Investment Facilitation Centres (IFCs) have been established in Islamabad and provincial capitals to assist small medium enterprises to set up their businesses on fast track basis.
Similarly, the officials said one window facility is being provided to foreign investors through BoI headquarters and regional offices.
In addition, the government is also undertaking steps to improve the SEZ act and make it more investor and business friendly.
With the introduction of the SEZ (Amendment), Ordinance 2015, there has been a change in the work visa policy for technical personnel working on various projects such as the China Pakistan Economic Corridor. The visa processing time has been reduced from four weeks to 7-working days and provision of multiple entry for a maximum of 5-years validity has also been added. The BoI, in consultation with provincial governments, identified 29 sites for establishing SEZs alongside CPEC route, the officials said.
