ISLAMABAD: Prime Minister Imran Khan on Wednesay said all the initiatives for establishment of Special Economic Zones (SEZ) will be spearheaded by the federal government while taking the provinces fully on board.
Chairing a meeting to review progress on establishment of Special Economic Zones across the country, the prime minister directed to ensure that no effort shall be spared to ensure the completion of SEZs.
PM Imran Khan stressed that the government should remain competitive in providing incentives for transfer of technology and relocation of industries from China on the lines of incentives being provided by other regional countries. He said present government has brought about significant improvements in ease of doing business in the country.
Earlier, the meeting was informed that funds to the tune of Rs2.8 billion will be provided for provision of electricity to Bin Qasim, Dhabeji, Rashakai and Hattar SEZs during the financial year 2019-20.
Moreover, additional arrangements are being made for provision of 110 MMCFD Gas at the cost of Rs3.75 billion to different SEZs out of total 689 MMCFD requirement till 2023.
The meeting was also apprised of the revisiting efforts in existing legislative framework regarding uniform treatment for all local and foreign investors to ensure one hundred percent foreign ownership and repatriation of profit as well as dividends.