Ministry to provide Rs 5.6 billion for SEZs' infrastructure

The Ministry of Finance would provide Rs 5.6 billion fund under the direction of the Prime Minister to facilitate utility infrastructure (electricity and gas) in eight special economic zones (SEZs) under China-Pakistan Economic Corridor (CPEC), it is learnt.

According to the sources, the finance minister made commitment for providing funds to facilitate the SEZs in an in-camera meeting of Parliamentary Committee on China-Pakistan Economic Corridor which met with Sher Ali Arbab in the chair here at the Parliament House on Wednesday.

The sources said that Board of Investment (BOI) gave a comprehensive briefing to the committee on the provision of plan for providing facilitates of gas, electricity and others to the early-harvest three SEZs.

They said that National Highway Authority (NHA) also informed the committee that work of under-construction Hakla-DI Khan Motorway project is continuing smoothly. The committee gave June 2020 deadline for completion of the project.

The committee was told that the motorway forming part of the CPEC would reduce travel time between Islamabad and Dera Ismail Khan and boost economic activities in less developed areas of the provinces of Punjab and Khyber Pakhtunkhwa.

The four-lane 285-kilometre north-south motorway which starts from the Hakla Interchange on Peshawar-Islamabad Motorway, near Fateh Jang, and termites at Yarik near Dera Ismail Khan was planned to be completed by end of 2018 but later its completion time was extended to December 2019.

Sher Ali Arbab said while talking to this correspondent that the BOI briefed the committee about the plan to rationalize to the infrastructure for establishment of SEZs. He said that China Special Economic Zone Dhabeji in Thatta and Rashakai Economic Zone, M-1, Nowshera, would be of international standard.

He said that as many as five private investors are interested to invest for establishing industrial zones. He said that these private investors are engaged with Board of Investment for this purpose.

He said that the government would provide infrastructure for the facilities of gas, electricity and other utilities to private investors but they have to pay for this purpose.

He said that establishment of SEZs would be a game-changer for increasing economic activities in the country.

He said that the NHA told the committee that 60 percent work on Hakla-DI Khan Motorway project has been completed and remaining 40 percent would be completed in July next year.

Arbab said that the committee also discussed the CPEC authority ordinance.

He said that the Parliament would approve the CPEC authority ordinance after discussion.

He said that the committee would also visit Gwadar to inspect various development projects there.