President signs Special Economic Zones Bill 2012

Pakistan

President signs Special Economic Zones Bill 2012

Close

President Asif Ali Zardari signed the Special Economic Zones Bill 2012 on Monday.

10 September,2012 07:51 pm

President Asif Ali Zardari signed the Special Economic Zones Bill 2012 at a ceremony in Islamabad on Monday.Speaking on the occasion‚ the President said the Bill will help in reducing the cost of doing business.He said it will help increase exports‚ create jobs and enhance rate of return to investors.The President said we believe in consensus and take along all the stakeholders and this bill is an example of this policy.President Zardari said under the new law all capital goods‚ machinery and equipment will enjoy one time exemption from customs duty.He said this will lay the basis of industrial development in the country. He said incentives granted to investors will be protected by law. It will enhance the investors’ confidence.President Zardari said it will also ensure the continuity of economic development.He said Pakistan has great economic potential‚ strategic location‚ rich mineral resources and skilled manpower‚ and we must utilize these assets for the economic development of the country.