SIFC wants BoI to devise framework for SEZs

ISLAMABAD: The Special Investment Facilitation Council (SIFC) has directed the Board of Investment (BoI) to develop a comprehensive framework for Special Economic Zones (SEZs), aligning them with international standards.

The proposed model will introduce modern parameters, incorporating self-contained facilities such as healthcare, education, residential areas and foreign enclaves, similar to the next-generation SEZs being developed in China.

“SIFC’s Executive Committee that met here on January 22, 2025 also asked the BoI to communicate to the council the timeline for finalisation of consultations with all provincial chief ministers, including CM Gilgit-Baltistan and prime minister AJK, regarding implementation of the action plan on optimization of SEZs, approved by the 11th apex committee meeting of the SIFC,” officials, who were part of the 12th executive committee meeting, told this scribe. “Weekly meetings of the already constituted working group on industrial cooperation and optimization of the SEZs will be held to expedite speedy progress on the plan. To achieve this, a new framework should be designed to integrate all relevant aspects in a holistic manner.

“Five SEZs, previously agreed upon under CPEC [China-Pakistan Economic Corridor] and with Iran, have been approved in principle being international commitments.” The 18-point recommendations of the SEZ survey, held in July-August 2024, have also been shared with provinces for implementation. The approval committee endorsed the land lease policy for BQIP in the light of 11th ACM and formulation of policy for other SEZs as per SEZs law, after consulting provinces/ stakeholders.

“The BoI has already approved the land lease policy for establishing special economic zones (SEZs) and an action plan to streamline these zones. The BoI’s approval committee briefed the SIFC executive committee meeting about completing a survey of 35 industrial zones nationwide.”