| Lahore: Special Economic Zones Authority (SEZA) Chairman S M Naveed stated that nine Special Economic Zones (SEZs) are being established under China-Pakistan-Economic-Corridor (CPEC) and will have a crucial role to play in economic development, according to a news published on January 12.
Read: Govt to introduce ‘one-stop service’ for developing industrial infrastructure in SEZs
SEZA Chairman Naveed held a meeting, in which he highlighted that the SEZs, being developed under CPEC, will promote joint ventures from China, Pakistan, and other countries and will enhance industrial production. Since the federal government has a lot of incentives to offer for the industries set up in the zones, it will help to uplift the export sector of Pakistan. It was mentioned that several investors are interested in investing in the zones.
Read: CPEC Projects: SEZA Chairman shares update on economic zones
In a meeting, the chairman disclosed that Pakistan has been facing a trade deficit during the last few decades and it has only grown in the last decade, mainly because of reliance on imported goods. According to the statistics shared by the State Bank of Pakistan (SBP), the exports were at USD 22,536 million during the Fiscal Year 2021 (FY-2021) while imports were at USD 43,645 million. This marks a sharp trade deficit due to the lack of export-oriented goods produced by the country. |
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