LAHORE:Provincial Minister for Industries and Commerce Chaudhry Shafay Hussain chaired the 12th meeting of the Punjab Special Economic Zones Authority (SEZA) at the Committee Room of the Punjab Board of Investment and trade.
The meeting considered an eight-point agenda and took several important decisions aimed at further accelerating the pace of industrialisation in Punjab. The Board approved the expansion of the Green Industrial Park and Sundar Green Industrial Park Special Economic Zones. The proposals for the expansion of these Special Economic Zones will be forwarded to the Board of Investment, Islamabad, for final approval.
The meeting also decided to refer cases relating to void or cancelled plots, where industries did not establish factories within the stipulated timeframe, to the SEZA sub-committee. The sub-committee will examine each case individually and submit its recommendations.
The meeting approved forwarding the Land Lease Policy for Punjab’s industrial estates, recently approved by the Punjab Cabinet, to the Board of Investment, Islamabad. The Board further approved the implementation of the Punjab Industrial Estates Development and Management Company (PIEDMC) building by-laws for private sector developers. It also approved the inclusion of the additional secretary commerce in the SEZA sub-committee.
Addressing the meeting, Provincial Minister for industries, commerce and investment Chaudhry Shafay Hussain said Punjab’s Special Economic Zones offer immense opportunities for both domestic and foreign investment. He noted that attractive investment incentives available in these zones are encouraging local and international investors to choose Punjab as their preferred investment destination. He said that the expansion of certain Special Economic Zones is being undertaken in view of the growing demand from industrialists. The minister directed that the colonisation of private sector special economic zones should also be monitored and emphasised that the Punjab Special Economic Zones Authority must effectively perform its regulatory role.
Chaudhry Shafay Hussain stated that achieving 100 percent colonisation of industrial estates is among the government’s top priorities, adding that the establishment of more industries will generate greater employment opportunities. The meeting also reviewed the proceedings of the meetings of the SEZA’s sub-committee.
The meeting was attended by the secretary industries and commerce, chief executive officer of the Punjab board of investment and trade, chief executive officer of PIEDMC, Senior Vice President of the Lahore Chamber of Commerce and Industry, and other Board members. The chief executive officer of FIEDMC and other relevant officials participated in the meeting via a video link.
