"It goes to credit of government that this landmark initiative has been approved", said Majid Azyz, former President, Karachi Chamber of Commerce and Industry. - File photo

 

KARACHI: Special Economic Zones Bill 2012 approval by parliament is manifestation of governments strategy to attract investment in industrial sector and project Pakistan as safe, profitable, ideal place to set up industries.

Board of Investment BOI Chairman Salim Mandviwala's efforts will ensure incentive-laden package for foreign, domestic investors to set up industries in designated zones with all required infrastructure, facilities, said Majyd Aziz, former President Karachi Chamber of Commerce & Industry.

Aziz, who is also founder of Pakistan Japan Business Forum, said SEZ original concept was floated by PJBF with idea to set up economic zone for Japanese investors since there was substantial interest shown by them.

It goes to credit of government that this landmark initiative has been approved. He said SEZ promoters in various cities should endeavor to set up captive power plants, preferably coal-based, water desalination plants, impregnable security system, social infrastructure so that foreign investors can invest and work in enabling environment. Pakistan should soon be showcase of formidable investment opportunities and BOI can play prominent role.

He felt Board of Approval must be pro-active, meet frequently to approve projects, ensure immediate implementation.

He hoped Japan, China, USA, UK and in future Indian investors will take full advantage of SEZ 2012 by setting up export-oriented industries in Pakistan.

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