Planned SEZs Under CPEC To Enhance Capacity & Exports
The Special Economic Zones (SEZs) planned to be set up under China-Pakistan Economic Corridor (CPEC) would enhance productive capacity and exports base.
Once implemented, these SEZs will be able to provide a major impetus for economic and social development.These special economic zones will be located at different places of
all four provinces – to be identified by provincial governments themselves.
As per data, the idea of Special Economic Zones is not new and the concept was attractive for other countries as well, as it allowed them to enhance their competitiveness, attract foreign investment and diversify exports. The SEZs in Pakistan would prove to be a turning point for industrial sector as economic zones have played a key role in industrial development in many Asian economies.
The Board of Investment has already submitted a report highlighting 12 potential sites for special economic zones (SEZs) in Balochistan and Khyber-Pakhtunkhwa under CPEC. Experts on Friday said economic zones in Pakistan would help boost industrial growth, investments and exports.
The renewed emphasis on this strategy under CPEC is a welcome development, as this would allow Pakistan to learn from the successful experience of China. In Pakistan, the Special Economic Zone Act 2012 provides the governing structure, allowing both the federal and provincial governments to set up economic zones under various administrative