ISLAMABAD: Pakistan plans to establish 35 special economic zones (SEZs) to facilitate businesses and industry, officials said on Friday, amid Islamabad’s efforts to boost foreign investment.
The statement came at a meeting of Board of Investment (BOI) officials, presided over by Prime Minister Shehbaz Sharif, to review progress of various ongoing projects, according to Sharif’s office.
Officials briefed the prime minister that they had conducted a survey of the 35 SEZs under the Geographical Information System (GIS) and had extensive data to accelerate the progress of projects in these zones.
More than 200 business-to-business (B2B) agreements have been reached with several Chinese companies and memorandums of understanding (MoUs) worth $70 million have been signed, they added.
“Work on regulatory reforms should be accelerated to provide a conducive environment for business in the country,” Sharif was quoted as saying by his office.
“An effective and comprehensive roadmap should be created for the completion of B2B agreements with international investors and the implementation of signed memorandums of understanding.”
Pakistan, which has been facing an economic crisis, has been making attempts to boost foreign direct investment in a bid to support its $350 billion fragile economy, with Islamabad seeing a flurry of high-level exchanges with China, Saudi Arabia, Japan, Tajikistan, Azerbaijan, Qatar and other countries in recent months.
During the BOI meeting, PM Sharif instructed officials to set investment targets that could be achieved at the earliest.
“Effective marketing of investment opportunities in Pakistan is essential to attract foreign investors,” he said. “Construction of business facilitation centers, organization of road shows and other such measures are very important to bring foreign investment to the country.
Pakistan plans to set up 35 special economic zones to facilitate businesses, industry
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Pakistan plans to set up 35 special economic zones to facilitate businesses, industry
- Pakistani officials say over 200 B2B agreements reached with several Chinese companies, signed MoUs worth $70 million
- PM Shehbaz Sharif calls for accelerating work on regulatory reforms to provide a conducive environment for businesses
Federal cabinet authorized joining Gaza Board of Peace, says Pakistan PM
- Shehbaz Sharif, along with various world leaders, signed Donald Trump’s ‘Board of Peace’ charter this week in Davos
- The global body led by US President Trump seeks to end conflicts worldwide, including the one in Gaza
ISLAMABAD: Prime Minister Shehbaz Sharif said this week that the federal cabinet gave the green signal for Pakistan to join US President Donald Trump’s Board of Peace (BoP) body after holding consultations on the matter.
Sharif, along with the representatives of 18 other countries including Saudi Arabia, UAE, Türkiye, Indonesia, Qatar and others, signed the BoP’s charter with Trump during the sidelines of the World Economic Forum (WEF) summit in Davos on Thursday.
The Board brings together participating states and stakeholders seeking to support dialogue, stability and peace-related initiatives linked to the ongoing crisis in Gaza. However, Pakistani opposition parties have criticized the government for not holding consultations before joining the Trump-led initiative.
“Pakistan received the invitation for the Board of Peace on which the cabinet, after consultations, gave the authorization to join,” Sharif told reporters outside the Pakistan High Commission in London on Saturday.
He said the government had decided to join the global body with the hope that it would establish peace in Gaza and aid in the territory’s reconstruction.
The same was said by Sharif’s adviser on political and public affairs, Rana Sanaullah, while he spoke to a private news channel on Saturday.
Sanaullah said the cabinet held discussions on whether the government should join the BoP and endorsed the move to do so.
“The development happened in the past week to 10 days,” Sanaullah told private news channel Geo News.
“Based on this, the government signed after consultations with the cabinet. I know this, I was in that consultation.”
Trump has shared few details about the BoP, a body of world leaders formed under his leadership to end global conflicts including the one in Gaza.
Chaired by Trump, the board would include US Secretary of State Marco Rubio, Trump’s special envoy Steve Witkoff, former British prime minister Tony Blair and Trump’s son-in-law, Jared Kushner.
