Lahore: Special Economic Zones Authority (SEZA) Chairman S M Naveed on Monday (December 26) shared an update on the development of economic zones during a meeting held at the office, according to news sources. As per the authority chairman, five out of nine Special Economic Zones (SEZs), nominated under the China-Pakistan-Economic-Zone (CPEC), are being developed.
The SEZA chairman revealed that under-development economic zones include; Allama Iqbal Industrial City in Faisalabad-Punjab, Rashakai SEZ in Khyber Pakhtunkhwa, Dhabeji SEZ in Sindh, and Boston SEZ in Balochistan. It was also highlighted that the first phase of the Gwadar Free Zone – spanning 60 acres – is already completed and fully functional, while the mighty second phase – spanning 2,200 acres – is currently under progress.
During the meeting, it was also revealed that upcoming CPEC projects will be mainly related to textile, information technology, agriculture, science and mining sectors – which will help both decrease Pakistan’s reliance on the importance and boost exports.
The SEZA chairman also revealed that all the notified economic zones in the country occupy some 10,029.64 acres of industrial land, of which 5,220.62 acres have been allotted to investors with a planned industrial investment of PKR 633.9 billion. Of this sum, 43.6% comprises the foreign direct investment (FDI) component (USD 1.73 billion).
Hazafa reveres the art of writing and has been turned into a property enthusiast by profession. Her daily survival kit includes; tea, coffee, keyboard and paperbacks.
