ISLAMABAD, Federal Minister for Privatisation Fawad Hasan Fawad on Wednesday chaired the first meeting of SIFC (Special Investment Facilitation Council) Working Group to discuss impediments in development of Special Economic Zones (SEZs) with the objective of fast-tracking industrialization.

The meeting was attended by all relevant stakeholders in the Provincial governments and their industrial zone authorities. In a presentation, the Additional Secretary, Board of Investment (BOI) and DG, Special Economic Zones (SEZs) highlighted the major impediments faced by existing Special Economic Zones and the framework requirements of future Special Economic Zones, says an official press release.

The BOI proposed the development of a One Stop Shop facilitation for future Special Economic Zones. The Forum discussed the limitations of the concept of One Stop Shop and pointed out towards the need of a mutual agreement between the Federal and Provincial governments for a development framework based on international best practices and standards, within that the need of a legal mandate in the constitutional scheme was also highlighted.

The issues of identification and allotment of land, cost competitiveness, provision of utilities, human resource constraints and consistency of policies were also discussed.

It was agreed that based on the key takeouts of the meeting a working paper containing solutions and a clear roadmap for future will be circulated for the second and final meeting of the working group to be held preferably in next week.