Lahore: Board of Investment (BoI) Chairman and State Minister Muhammad Azfar Ahsan on Tuesday (December 21) mentioned the development of Special Economic Zones (SEZs) under China Pakistan Economic Corridor (CPEC) Phase-II is the prime focus of the government, according to media reports.
The BoI chairman, speaking at the CPEC Industrial Cooperation B2B Investment Conference, stated that the development work on three SEZs (out of nine) is progressing at a fast pace including; Dhabeji SEZ in Sindh, Allama Iqbal Industrial City SEZ in Punjab, and Rashakai SEZ in Khyber Pakhtunkhwa (KP).
Moreover, the chairman stated that the financial incentives were offered to developers and enterprises established in SEZs, which includes exemption from customs duty on import of capital goods and a tax-free period of 10 years.
Special Assistant to the Prime Minister (PM) on CPEC Khalid Mansoor disclosed that under CPEC Phase-II focus was on four SEZs with special attention to Information Technology (IT), renewable energy, pharmaceuticals, automobiles, and textiles. A Memorandum of Understanding (MoU) was also signed between China Machinery Engineering Cooperation and Habib Bank Limited (HBL) on agricultural cooperation.
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