Govt intends to set up nine special economic zones under CPEC

ISLAMABAD - The government has planned to establish nine Special Economic Zones (SEZs) representing all units of the federation, including Gilgit Baltistan and Azad Jammu and Kashmir.

Prime Minister's spokesperson Musadik Malik said that the decision was taken in a meeting of the Cabinet on China Pakistan Economic Corridor (CPEC), which was headed by Prime Minister Shahid Khaqan Abbasi.

He added that the government has announced the decision to give exemption to the parties setting up SEZs from customs duty for five-year exemption and a ten-year exemption for the industries which would start operations before June 2020.

Different projects of CPEC, including power and water supply, construction of Gwadar airport, free port and extension of the port were discussed in the meeting.

The committee has also sought proposal to import electricity in order to meet the future demands of the port city, Gwadar, he said, adding that Pakistan wanted to carry on the gas pipeline project with Iran if international sanctions are removed.

Special Assistant said China has provided a grant worth over twenty-two billion rupees for construction of Gwadar International Airport and work on the project will start by mid next year, reported Radio Pakistan.