A meeting of the Board of Approvals for Special Economic Zones was held in Islamabad today with Finance Minister Muhammad Aurangzeb in the chair.

The Board approved Karachi Industrial Park as a Federal Special Economic Zone. The proposed zone aims to attract export-oriented industrial investment, promote technology transfer and value addition, and generate employment.

The Board also approved the general eligibility criteria for the provision of utilities and allied services up to the designated zero point of privately established SEZs through government funding, under the SEZ Act, 2012.

It also approved the Land Lease Policy for Public Sector SEZs and Industrial Estates in Punjab.