Setting up SEZs Country Economic Development

Daily News

Lahore: According to S M Naveed, chairman of the Special Economic Zones Authority (SEZA), nine Special Economic Zones (SEZs) are being constructed under the China-Pakistan Economic Corridor (CPEC) and will be important to economic growth.

At a meeting, SEZA Chairman Naveed emphasized that the SEZs being built as part of CPEC will encourage collaborative ventures from Pakistan, China, and other nations and boost industrial production. The federal government has a lot of advantages to give to the businesses established in the zones, which would assist Pakistan’s export industry is growing. It was stated that many investors are considering investing in the zones.

The chairman of a meeting said that Pakistan has had a trade deficit for several decades and has only worsened in the last ten years, primarily due to dependency on imported commodities. State Bank of Pakistan (SBP) figures show that during Fiscal Year 2021 (FY-2021), exports totalled USD 22,536 million, and imports totalled USD 43,645 million. The country’s lack of export-oriented goods represents a significant trade imbalance.For the latest Real Estate News and Blogs, visit Realtors blogs.

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