The Board of Investment (BoI), government of Pakistan has approved to grant the status of special economic zone (SEZ) as part of its plan to promote investment in the country. Chairman Punjab Industrial Estate Development and Management Company (PIEDMC) Malik Tahir Javed has welcomed the BOI's decision and said the Quaid-e-Azam Apparel Park would prove to be a milestone in the development of textile and garments sector.
He said that after getting the status of SEZ, the zone developer will get ten years income tax exemption and investors 5 years exemption. The Apparel Park spread over 1567 acres of land on the Sheikhupura Motorway will result in provision of job opportunities to millions of people.
Tahir Javed further said that the federal government has approved construction of an interchange on the Motorway, 20 minutes drive from Lahore to connect the Apparel Park with the motorway. He told this scribe that work was being carried out on the fast track to construct a labour colony, textile institute, commercial centre, exhibition centre, a hospital, a power house and other necessary facilities in the state-of-the-art Quaid-e-Azam Apparel Park.