ISLAMABAD: The Board of Investment (BoI) on Friday notified the Allama Iqbal Industrial City (AIIC), Faisalabad as special economic zone (SEZ) and allowed sales of plot in the AIIC, Hub and Bostan zones.

The government further chartered three committees of the AIIC, Bostan and Hub economic zones.

The committees will administer and enforce benefits and rules as well as ensure facilitation among the economic zones, its enterprises and the government.

BOI Chairman Atif R. Bokhari showed his satisfaction over the progress on the development of SEZs and said that it is high time for all of us to tap into the opportunities being provided by ‘Belt & Road Initiative’ in the shape of Industrial Cooperation under the China-Pakistan Economic Corridor.

He said the private sector should take leading role in this second phase of CPEC.

BOI Secretary Fareena Mazhar said the SEZs would help increase industrialisation while adding that the government was taking serious efforts for provision of gas and electricity at the new SEZs.

The AIIC is being developed by Faisalabad Industrial Estate Development and Management Company with total area of 2,800 acres. The SEZ will target industries like textile, engineering, electrical and electronics, chemical paints, agriculture and food processing, steel and packaging sectors.

Published in Dawn, September 12th, 2020