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September 22, 2020

Economic zones

Newspost

 
September 22, 2020

The PTI-led federal government intends to establish new economic zones to encourage small and medium-sized industrial projects. This idea is commendable, but the government must be careful in its implementation. Many such initiatives in the past have failed. The main reason for their failure was that seasoned businessmen would end up taking the plots in such zones.

They did not only crowd out new entrepreneurs but also used these economic zones to avoid taxes. As a result, new entrepreneurs do not get a chance to try their luck. These economic zones also fail to create employment opportunities for the people. Before new zones are established, the prime minister must visit old economic zones and find out the reasons for their failure.

Raja Shafaatullah

Islamabad