The government has established 10 Special Economic Zones (SEZs) in different parts of Punjab to promote the manufacturing sector, boost diversification in exports and increase the country’s economy.
According to the media persons, the construction of four more SEZs is about to be started once the approval from authorities is given. In Lahore, land for the first Special Technical Zone (STZ) has also been allocated destined to promote the services sector.
Talking to the media, an official of the Punjab Board of Investment and Trade (PBIT) said, “10 SEZs has been completed including the Allama Iqbal Industrial City (AIIC) near Faisalabad where the Chinese plan to invest by establishing industry under the China-Pakistan Economic Corridor (CPEC) project.”
Read more: Special Economic Zones launched in Thatta, Chakwal
Moreover, the SEZ under the approval process includes Masan Daud Khel, Zaamin SEZ (a private entity), Bahawalpur Industrial Estate and Roshan Sun Tao Paper Mills SEZ (Lahore-Islamabad Motorway).
“We have adopted an effective strategy to boost the economy as 10 special economic zones have been established in the province,” Punjab Minister for Industry and Commerce Mian Aslam Iqbal said.
Meanwhile, speaking to the recently elected office deliverers of Tanneries Association Dinpur, Kasur, Mr. Iqbal said, “There is a conducive environment for investment in the special economic zones as world-class industrial infrastructure has been provided there.”
As stated by Mr. Iqbal, over Rs 350 billion have been invested in various sectors of Punjab in the last four years.
Production commencement in some economic zones
Besides, the Rahim Yar Khan SEZ has a total of 327 acres of land (sellable area), out of which 220.5 acres have been sold whereas 106.5 acres are remaining. Production in four units has been started but five are under construction.
Three units in Bhalwal Industrial Estate have started production while one is under construction.
Similarly, SEZ Oil Village has a total land of 74 acres of which 30 acres have been sold already with three units under construction at various plots. 44 units have started production while nine are under construction at VAC SEZ
