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Special economic zones on the cards

July 12, 2012

RAWALPINDI, July 11: The chairman of the Board of Investment (BoI), Salaam H. Mandviwala, here on Wednesday said the special economic zones (SEZs) bill will be tabled in the current session of the National Assembly.

“In case the bill is approved, industries in the SEZs will be exempted from the capital tax besides getting 10-year tax exemption,” he stated while talking to traders and industrialists during his visit to the Rawalpindi Chamber of Commerce and Industries (RCCI).

Mr Mandviwala said the BoI’s main goal was to promote foreign direct investment and special economic zone would help a lot in this regard. He was of the view that for the endorsement of investment in the country, economic policies must be made constant to develop trust of the investors.

He said the RCCI was playing a vital role in the uplift of the business activities in and outside the country. He also appreciated the RCCI step for organising 10 single country expos in the current year.

RCCI President Jawed Akhtar Bhatti said the business community can take the country out of the crises but for that the government should facilitate them.

He lauded the steps being taken for the establishment of the special economic zones, adding this was the only way to restore the confidence of foreign and local investors to invest in the country.