Seven more export processing zones to be set up shortly

[LRE]

Seven more export processing zones to be set up shortly
RECORDER REPORT
SIALKOT (September 13 2008): The Export Processing Zone Authority (Epza) will set up seven more export processing zones in the country and Azad Kashmir in near future. Official sources told Business Recorder here on Friday that the proposed EPZs would be established at potential sites like Larkana, Multan, Sukkur, Faisalabad, Gwadar, Gilgit and Mirpur (Azad Kashmir) for boosting export-oriented industries of these areas.

The Epza has already announced highly attractive incentives and concessions for business community for setting up industrial units in the EPZs for further accelerating the pace of export activities aimed at enhancing exports volume of the country.

Incentives offered include 100 percent ownership rights, 100 percent repatriation of capital and profit, no minimum or maximum limit for investment, duty-free import of machinery, equipment and material, no sales tax on input goods including electricity and gas bills, foreign exchange control regulation of Pakistan not applicable, freedom from national import restrictions, EPZ manufacturer would be treated at par with bonded manufacturers in tariff areas for any future incentives to be announced for the exporters, relief from double taxation subject to bilateral agreement, inter-unit transfer of finished goods among exporting units.

Facilities available include: one-window service and simplified procedure, availability of infrastructural facilities like water, electricity, gas and telecommunication and peaceful, secure and environmentally protected pollution free work area has been ensured in export processing zones of the country.

The Sialkot Export Processing Zone (SEPZ) six units are successfully functioning in SEPZ, and Epza is stressing the business community of Sialkot that they should focus their attention on setting up industrial units in Sialkot Export Processing Zone (SEPZ) and enjoy the benefits. The setting up of industrial units in SEPZ would not only help in doubling the export volume but would also generate employment opportunities in the area.

The location of SEPZ is very important because some adjoining small industrial areas like Daska, Hafizabad, Wazirabad, Gujrat and Gujranwala would benefit and promote their units. Besides, Sialkot Dry Port and Sialkot International Airport are also located on the same track, sources added.

Copyright Business Recorder, 2008