Protection of industrial land: Govt urged to devise regulatory mechanism

KARACHI: Vice President FPCCI, Nasir Khan has urged the government to devise a regulatory mechanism for protecting the industrial land and offer industrial plots to genuine industrialists on nominal rates.

He said establishment of new industries and expansion of the existing ones are being seriously hampered by the unproductive speculative trading in the dedicated industrial real estate across Pakistan in Export Processing Zones (EPZs) and Special Economic Zones (SEZs).

He said that the government must intervene immediately and impose restrictions on real estate buying and selling for profiteering and make sure that industrial plots are only reserved for setting up industries and nothing else.

Nasir Khan expressed his profound dissatisfaction that there have been various announcements for Export Processing Zones (EPZs) and Special Economic Zones (SEZs) for Balochistan over the past 20 years by various successive governments; but nothing concrete on ground has been achieved.

Copyright Business Recorder, 2021