Islamabad, January 23, 2013 (PPI-OT): First meeting of the Board of Approval of Special Economic Zones Act 2012 was held under the Chairmanship of Prime Minister Raja Pervez Ashraf at the PM’s Secretariat today.
The meeting was attended by Federal Minister for Religious Affairs, Syed Khursheed Shah, Minister for Commerce, Makhdoom Amin Fahim, Minister for Law, Mr. Farooq H Naek, MOS/Chairman Board of investment, Mr. Saleem H Mandviwala, Chief Minister Sindh, Syed Qaim Ali Shah, Governor Balochistan, Nawab Zufiqar Ali Magsi, Chief Minister Gilgit Baltistan, Syed Mehdi Shah, Chief Secretaries of Punjab, Sindh, Khyber Pakhtoonkhwa, Balochistan, Gilgit Baltistan and other Senior officials.
The meeting accorded approval to the selection of two Parliamentarians one from each House as members of Board of Approval of Special Economic Zones as required under the SEZ Act 2012. The meeting agreed on the names of Senator Humayun Mandokhel and Ms. Bushra Gohar MNA. The meeting also approved the name of one professional, Mr. Khurram Hashmi for BOA.
The meeting urged the provincial governments to notify the SEZs after the approval of rules under the SEZ Act 2012 which will be vetted by all the stakeholders in less than one month time frame.
Briefing the meeting about the Government’s initiative of making Special Economic Zones in the Country, MoS/Chairman BOI, Mr. Saleem H Mandviwla said that it would be a milestone for boosting the country’s export and providing investment opportunities to the potential investors. The SEZ Act is a landmark achievement of the democratic government as it provides a legal framework for the promotion of domestic and foreign investment in Pakistan, he added.
Mr. Saleem Mandviwalla said that BOI worked together with Provincial Governments, private sector and other professionals for the approval of the Act. He said that the law has been enacted to meet the global challenges of competitiveness in attracting investment as liberal incentives and other facilitations will help in reducing the cost of doing business.
Appreciating the efforts of the Chairman BOI, Mr. Saleem H Mandviwalla and all the Provincial Governments in realizing the SEZ concept in its letter and spirit, the Prime Minister expressed the confidence that the initiative would facilitate the acceleration of investment in the country.
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