LAHORE: Development of Special Economic Zones (SEZs) under Phase-II of China-Pakistan Economic Corridor is the top priority, announced Board of Investment (BoI) Chairman and State Minister Muhammad Azfar Ahsan.
Under the second phase of CPEC, the feasibility to establish four SEZs related to Information Technology (IT), renewable energy, FMCGs, automobiles, and pharmaceuticals is being discussed, informed Special Assistant to the PM on CPEC Khalid Mansoor while briefing on the occasion.
To attract investments, the government introduced various incentives including a tax-free period of 10 years, exemption of customs duty on import of capital goods to both the developers and enterprises set up in the SEZs at commercial seaports of Pakistan.
In addition, both – China’s Ambassador to Pakistan Nong Rong and Pakistan’s Ambassador to China Moin ul Haque lauded the government’s efforts to introduce new avenues of investment and mutual cooperation.
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