The Board of Investment’s Approval Committee has approved the “Land Lease Policy” for Special Economic Zones (SEZs) to facilitate investment growth.

The 9th meeting of the SEZs Approval Committee was held on Tuesday under the chairmanship of Federal Minister for Investment Board, Privatization, and Communications, Abdul Aleem Khan. The meeting was attended by representatives from provincial governments, including Gilgit-Baltistan, and focused on key decisions related to SEZs and departmental matters. The committee also decided to amend the Special Economic Zones Act to reduce the notice period for calling meetings from 21 days to just 7 days.

Speaking at the meeting, Minister Abdul Aleem Khan emphasized the successful survey of 35 industrial centers across the country, identifying issues and solutions. He highlighted that significant progress had been made in upgrading SEZs and improving their standards within a short time frame.

He further stated that the introduction of world-class facilities at industrial centers would attract international investment, fostering rapid economic growth. He emphasized the importance of regular and timely meetings of the “Approval Committee” to streamline operations.

Minister Khan also mentioned that all matters related to SEZs have now been updated to align with current requirements. He instructed that the survey reports of the SEZs be shared with provincial governments and relevant agencies. He noted that digital data on industrial centers is now available and encouraged all concerned entities to benefit from this mutual property.

The Minister concluded by saying that efforts are being made to simplify procedures and eliminate unnecessary complexities in order to encourage investment. The government will promote all types of industries in SEZs, which will ultimately contribute to foreign exchange earnings.