ISLAMABAD, Feb 16: Federal Minister for Industries, Jahangir Khan Tareen on Wednesday said that the Export Processing Zones Authority (EPZA) board of directors would be reconstituted and more EPZs and Special Economic Zones would be set up.

He was presiding over a high level meeting to review the working and performance of the EPZA. The chairman, Export Processing Zones Authority, Lt-Col (R) Syed Akbar Hussain gave a detailed presentation to the minister about the functions and performance of the EPZA.

He informed the minister that the mandate of the authority was to plan for the developed and operative EPZs in Pakistan. He said that EPZs were established in Karachi, Sialkot, Gujranwala, Risalpur and Sandak, which were developed through private sector. Further Zones are being established at Dudder (Balochistan) by Chinese and at Rechdik (Balochistan) by Australian Company, he said.

He briefed the minister that despite unfavourable conditions, the EPZA growth rate was 57pc over the last financial year and the total export from EPZA was recorded $1321.19 million.

Major part of the exportable goods produced at EPZs goes to Europe, US and Gulf. He also proposed a reform package containing proposals like that of reconstituting the board of directors of authority and restoring the tariff withdrawn through budget 2004-05 for improvement of Export Processing Zone exports, and also requested that incentive package should be provided to bring at par the National EPZs with other zones of the world to compete the international market. -APP