World-class infrastructure provided in special economic zones: Shafay

LAHORE:Minister for Industries and Commerce Chaudhry Shafay Hussain on Wednesday said that world-class industrial infrastructure has been provided in the Special Economic Zones.

The minister said this while visiting Pakistan Navy War College Lahore. During the visit, he met Commander Central Punjab/Commandant PN War College Rear Admiral Jawad Ahmed. Matters pertaining to teaching activities at Pakistan Navy War College, professional affairs of Pakistan Navy and investment opportunities in Punjab were discussed. They also discussed the proposal to establish a Navy Museum in Lahore. The minister inspected various departments of Pakistan Navy War College and reviewed the teaching process. Rear Admiral Jawad Ahmed briefed the minister about the courses being offered at Pakistan Navy War College. Chaudhry Shafay informed about the steps taken to promote investment in Punjab. Provincial Minister for Industries and Commerce said that a mutual cooperation agreement can be signed between Pakistan Navy War College and Punjab Tianjin University of Technology.

A team from Pakistan Navy War College should visit the university for this purpose. The Pakistan Navy War College team will also visit the Special Economic Zones of Punjab. There is a 10-year income tax exemption on investment and a one-time duty-free import of machinery. Investor companies from China and other countries are setting up industrial units in the Special Economic Zones of Punjab.

A Chinese group will set up a factory to manufacture lithium batteries in Punjab. The Provincial Minister apprised that during his recent visit to China, he held fruitful meetings with major Chinese investment companies regarding investment opportunities in Punjab. He further said that several Chinese investment groups are keen to invest in Punjab. Chaudhry Shafay highlighted that the steps being taken to promote investment opportunities in Punjab are proving fruitful and beneficial.