QUETTA: The chief executive of the Balochistan Board of Investment and Trade, Farman Zarkoon, has said that special economic zones (SEZs) in Bostan and Hub will boost industrialisation in the province.
“The federal and provincial governments will establish SEZs under the Special Economic Zones Act, 2012,” he said on Monday.
He said the role of the Board was to act as a mediator between the Special Economic Zones Authority and its operators.
Mr Zarkoon said developers and entrepreneurs would be exempted from duties and taxes on import of all capital goods for the purpose of development, operation and maintenance of SEZs.
“All taxes on the income generated in connection with the development and operation of the economic zone will be exempt from all taxes for 10 years from the start of the Special Economic Zones Development Agreement,” he said.
“The Bostan special economic zone provides investment opportunities in various industries, including fruit processing, agricultural machinery, pharmaceuticals assembly of motorcycles. The Hub SEZ on an area of 400 acres will have chemical, food, cement, pharmaceuticals, energy, oil lubricants, marble, metal processing, mineral grinding and steel grinding plants,” Mr Zarkoon said.
The project would create 143,000 jobs directly and indirectly for the people of Balochistan, he added.
Published in Dawn, July 21st, 2020