The Economic Coordination Committee has asked the power and petroleum divisions to devise a plan within 30 days to ensure the provision of electricity and gas facilities to the Special Economic Zones under CPEC.
Finance Minister Asad Umar chaired the meeting in Islamabad on Monday morning.
Prime Minister’s Adviser on Commerce Abdul Razak Dawood and top officials from the Board of Investment briefed the ECC on the progress regarding Special Economic Zones (SEZs). The meeting was informed that there are a number of administrative hurdles and challenges to ensure the start of work in these special zones.
After detailed deliberations, the power and petroleum divisions were asked to submit a plan to the ECC within the next 30 days regarding electricity and gas requirements of the SEZs.
The ECC was informed that the government has planned to establish nine SEZs in all four provinces, and Gilgit Baltistan under the framework of the China Pakistan Economic Corridor (CPEC). Three economic zones will be established at three different locations during the first phase; Rashakai in KPK, M3 Faisalabad in Punjab and Dhabeji near Karachi in Sindh.
The committee also approved Rs833 million to pay the salaries and retirement benefits of the people working for the Pakistan Machine Tool Factory.