Senate proposes to set up 42 special economic zones

Senate proposes to set up 42 special economic zones

ISLAMABAD: Minister for Industries and Production Ghulam Murtaza Khan Jatoi Monday apprised the Senate that proposal was on card to set up 42 Special Economic Zone (SEZ) across the country besides nine industrial zones being established under China-Pakistan Economic Corridor (CPEC) in all the provinces, Gilgit-Baltistan and Azad Jammu and Kashmir.

Winding up discussion on a motion moved by Ayesha Raza Farooq that the House may discuss the need for effective measures to boost industrial growth in the country, the minister said the SEZ aimed at manufacturing all those goods which now were being imported.

He said the approved nine zones would be set up one each in all provinces, Gilgit-Baltistan, Azad Kashmir and FATA while two zones at Islamabad and Karachi.

Jatoi said Board of Investment was also developing a policy so that technology could also be transferred to Pakistan in the economic zones.

He said all Pakistani labour laws would be implemented in these zones adding that local labours would be given opportunities in these zones.

The minister said the government was taking effective measures to boost industrial growth in the country.

He said the industrial growth has reached to 6.8 percent this year from 4.6 per cent owing to the pragmatic steps taken by the incumbent government.

Jatoi said industries have almost been exempted from power and gas load-shedding.

He said export processing zone has already started work in Karachi and another would be established in Gwadar.

The minister said the government has also given auto policy under which new manufacturing plants were being set up in the country which would also help attract foreign investment.

The interest rate was also reduced from 9.5 per cent to 5.7 per cent to encourage investment in the country. (APP)

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