Hattar given Special Economic Zone status

To have 10 year income tax holiday and one time duty free import

PESHAWAR: The federal Board of Investment (BOI) on Thursday approved Special Economic Zone (SEZ) status for the Hattar Industrial Estate in Khyber Pakhtunkhwa to avail special incentives in terms of tax and duties. After the availing the SEZ status, the Hattar Industrial Estate has become Hattar Economic Zone (HEZ) which will avail 10-year income tax holiday and one time duty free on import of capital goods to all the industrialists investing in the HEZ.

A press release of the Khyber Pakhtunkhwa Economic Zones Development  and  Management Company (KPEZDMC) said that it was for first time in the history of Khyber Pakhtunkhwa that an industrial estate has given the SEZ status and all this became possible with the efforts of KPEZDMC management.  The SEZ status has been given to Hattar by the BOI, which is another milestone achieved by the KPEZDMC towards industrialisation of the province.

The HEZ is the first project of the Company and is already in the developing phase, the release said and added that HEZ would be attracting Rs200 billion from both local and international investors by 2017.

The BOI gave SEZ status to the Hattar Industrial Estate at a meeting held at the Board office in Islamabad on Thursday.

The meeting was jointly chaired by Miftah Ismail, chairman BOI, and Azher Ali Chaudhry, secretary BOI, and Mohsin.M Syed, CEO, KPEZDMC, representatives of Chambers of Commerce, Fata, and various ministries were among those attended. Industries operating in the SEZ will have an immediate access to high-quality infrastructure, un-interrupted power supply, public facilities and support services along with simpler business and establishment rules and expedited administration.