Special Economic Zone Soon
20 May 2009
ISLAMABAD - Minister of State and Chairman Board of Investment
Saleem H Mandiwalla Tuesday said that special economic zone (SEZ)
was being set up with attractive incentive package for investors
and the government would approve the enactment of zone policy.
He stated this while talking to a nine-member Chinese delegation
headed by Jamshaidullah, General Manager M/s Rimedyne
Refrigeration System Co Ltd.
Mandviwalla welcomed the Chinese delegation and appreciated the
Chinese companies and businessmen in Pakistan. He highlighted
the policy parameters of investment in Pakistan. He underlined
the policy, which allows 100 per cent foreign equity in the
major sectors and full repatriation of profits and dividends in
all the sectors.
It was further explained that the average rate of return is
almost 30 per cent and in some cases up to 50 per cent.
Tariq Iqbal Puri appreciated the delegation for commitment to
bring Chinese delegation to Pakistan in future and further
strengthening a strong link between Pakistan and China. He
assured to extend all possible assistance required to them.
Jamshaidullah expressed his keen interest in direct sale for
their CNG buses and looking for a joint venture partner in
Pakistan. He sought a piece of land in Islamabad for parking of
buses, which was agreed by the representative of CDA on lease
basis after submission of the feasibility study to CDA for
consideration. The representative of CDA showing them different
chunk of land available with them for different purposes also
made a presentation.
The representatives of M/s DART, a management consultant
company, highlighted the auto industry policy with incentives
available to manufacturers of auto industry covered under
different SRO.
The Chinese delegation committed to export 30 CNG buses in the
first phase for Islamabad, while CDA informed that it needed 500
CNG buses for Islamabad.
