Islamabad: The federal government has chosen to approve the One Stop Service Act, under which ‘one-stop service’ will be given for creating industrial infrastructure in the SEZs (Special Economic Zones), which are being inaugurated under China-Pakistan-Economic-Corridor (CPEC).
It was also revealed that this ruling seeks to encourage foreign and domestic investors to set up SEZ industrial units by streamlining lengthy methods like receiving clearances, No Objection Certificates (NOCs), access, and licenses.
In a federal cabinet conference, Prime Minister (PM) Shehbaz Sharif endorsed the draft of the One Stop Service Bill, which was given to the Cabinet Committee on Legislative Cases for permission. It was noted that the bill will also be submitted to parliament for formal approval.
Setting up an industrial unit in SEZs takes time and effort, as the investors must have around 28 NOCs for constructing industrial infrastructure. If the latest bill is passed, it will accelerate the time-bound processing of the application.
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