Aleem Khan vows to facilitate Chinese investors in Special Economic Zones
Business
Says the Board of Investment will provide all facilities to Chinese investors
ISLAMABAD (Web Desk) - Pakistan’s Privatisation Minister Abdul Aleem Khan promised to facilitate Chinese investors in Special Economic Zones (SEZs).
SEZs are usually subject to different and more favorable economic regulations compared to other parts of the same country, which include tax incentives and the opportunity to pay lower tariffs.
China, a major ally and investor in Pakistan, has pledged over $65 billion in investment in road, infrastructure and development projects under the China-Pakistan Economic Corridor (CPEC) project.
CPEC is a part of the Belt and Road Initiative, a massive China-led infrastructure project that aims to connect various countries around the globe through trade.
“Federal Minister for Privatisation and Communications Abdul Aleem Khan says the Board of Investment will provide all facilities to Chinese investors including sale and transfer of land in Special Economic Zones,” it is reported.
Khan, as per the state-run media, was presiding over a meeting in Lahore to discuss difficulties being faced by investors in SEZs.
“He directed to resolve all problems being faced in the Special Economic Zones across the country.
Chinese investment and financial support since 2013 have been key for Pakistan’s struggling economy, including the rolling over of loans so that Islamabad is able to meet external financing needs at a time its foreign reserves are low.
