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Bhalwal, R Y Khan, Vehari IEs Granted Special Economic Zone Status

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LAHORE– Prime Minister Imran Khan has granted the status of “Special Economic Zone” to the three industrial estates i.e. Bhalwal, Rahim Yar Khan and Vehari industrial estate- under the administrative control of the Punjab Industrial Estates Development and Management Company.

The Chairman Punjab Industrial Estates Syed Nabeel Hashmi thanked the Prime Minister on the award of this status and said it would revolutionize the industrialization and usher a new era of progress and prosperity in the country, particularly in the province of Punjab.

He urged the prime minister in a meeting recently held in PM secretariat, in the presence of Chief Minister Usman Buzdar, that a number of incentives are required for industrial sector in order to increase exports and create employment in Punjab province

The Special Economic Zone (SEZ) Act provides fiscal incentives to the developers as well as industrialist which includes tax exemptions for 10 years and one-time duty exemption on the import of machinery.

It is worth mentioning that among those two industrial estates are located in south Punjab.— PRESS RELEASE