QUETTA: The government approved the establishment of a new Export Processing Zone (EPZ) in Balochistan’s Chagai district, with 80% ownership by China under the Siah Dik Copper Project.
The Economic Coordination Committee (ECC) of the Cabinet, chaired by Finance Minister Muhammad Aurangzeb, gave the green light to the project, declaring three mineral leases covering 4,208 acres near Saindak as a Private Export Processing Zone.
The KoheSultan Mining Company Limited will manage the zone, with 80% equity held by China Metallurgical Group Corporation and 20% by the local Siakoh Mineral Development Corporation.
The decision aims to unlock the development and export potential of the region’s mineral resources.
According to a news report, Finance ministry officials confirmed that while Pakistan remains bound by an IMF condition to phase out Special Economic Zones (SEZs) and EPZs established before 2023, exceptions have been granted for projects approved within the last two years.
The IMF agreement also mandates that all incentives for existing SEZs and EPZs will expire by 2035, irrespective of operational status.
This move comes after the government initially withdrew the EPZ proposal earlier this year to adhere to IMF conditions, but later secured approval for the Siah Dik project under the updated framework.
