Board of Investment (BOI) Chairman and Special Assistant to the Prime Minister Dr Miftah Ismail has proposed setting up of a Special Economic Zone (SEZ) to promote forestry investment which will lead to creating new job opportunities in the region.
Dr Miftah floated this proposal in a meeting between the officials of South Punjab Forest Company (SPFC) and Board of Investment (BOI) which held here the other day to discuss promotion of investments in the forestry sector of Punjab. South Punjab Forest Company (SPFC) Chief Executive Officer Tahir Rasheed appreciated the idea and also agreed to share it with SPFC's board.
Tahir briefed Dr Miftah Ismail regarding the investment opportunities in the forestry sector and how it can bring a socio-economic revolution in Punjab. According to Tahir Rasheed, 'Fast growing species which are environmentally friendly, will be promoted through this initiative, which will benefit investors in the long-run.The Government of Punjab has notified 134,995 acres of blank forest land to SPFC in six districts across of South Punjab, which will be offered to the private investors for 15 years lease, for tree plantation under Public Private Partnership (PPP) mode. The lease period shall be further extendable to another 15 years term subject to satisfactory performance of the investors.'
He also welcomed and appreciated the initiative by the Government of Punjab to promote sustainable/commercial forestry investments and hoped that people will be interested to invest in it. Tahir Rasheed asked Dr Miftah Ismail for support to engage the business community to promote forestry investments, which Dr Miftah agreed to do.