Parliamentary Committee on CPEC set to expedite SEZs execution

The Parliamentary Committee on China-Pakistan Economic Corridor (CPEC) has asked the Board of Investment (BoI), the State Bank of Pakistan (SBP) and the Federal Board of Revenue (FBR) to resolve all the issues pertaining to special economic zones (SEZs) on a top priority basis, so that these early harvest projects could be ready for economic activity.

An in-camera meeting of the Parliamentary Committee on CPEC under the Chairmanship of Sher Ali Arbab on Thursday began its proceedings with the confirmation of minutes of the previous meetings followed by a presentation by the secretary communications on the infrastructure development projects – both completed and ongoing – under the CPEC.

The meeting was also given a briefing by the FBR on income tax, sales tax and custom duties pertaining to Gwadar and SEZ Rashakai, Dhabeji, Faisalabad.

On the agenda of the meeting there was also a briefing on modalities for local and foreign companies in terms of banking facilities and exemptions.

The chairman National Highways Authority (NHA) briefed the committee on complete and ongoing infrastructure development projects under the CPEC.

The members of the committee wanted the projects to be expedited. The committee recommended to the NHA that the projects may be completed as per the given timelines.

The meeting decided that the issue of taxes and other duties pertaining to special economic zones Rashakai Dhabeji and Faisalabad was taken up with the FBR and the State Bank of Pakistan.

The committee advised the BoI, the State Bank of Pakistan and the FBR to resolve all the issues of these SEZs on a priority basis, so that these early harvest projects could be ready for economic activity.

The chairman stated that every provision and concession, which enables industrial growth and import substitution and leads to export-based industry, may be made available.

Those who attended the meeting were Noor Alam Khan, Sadaqat Ali Abbasi, Umer Aslam Khan, Khan Muhammad Jamali, Zille Huma, Ahsan Iqbal Chaudhary, Sardar Ayaz Sadiq, Mehnaz Akbar Aziz, and Muhammad Aslam Bhootani.