Islamabad: The government is set to allocate Rs 500 million to provide electricity to special economic zone (SEZ) Bin Qasim industrial park in Karachi under China-Pak Economic Corridor (CPEC).
The amount will be allocated for the first quarter of financial year 2019-2020.
The Federal Government decides to start electrifying the Special Economic Zones (SEZ)EZs. The first SEZ that would get the immediate relief after the budget would be the Bin Qasim Industrial Parks at Karachi. The Adviser to PM on Commerce and Textiles, Industries and Production and Investment Abdul Razak Dawood co-chaired a meeting on provision of electricity and gas to SEZs with Federal Minister for Power Mr. Omar Ayub.
It was decided that electricity will be provided to 9 SEZs on priority including Bin Qasim Industrial Park, Karachi and Korangi Creek Industrial Park, Karachi Under section 27 (i) of the SEZ Act, 2012 – “the Federal and Provincial Governments to ensure the provision of gas, electricity and other utilities at the designated zero point of each SEZ.” Cost of provision of utilities to SEZs will be met through PSDP.
The Minister for Power issued direction to the K Electric to make arrangements to cater the electricity needs of the Bin Qasim Industrial Park. The Advisor directed Board of Investment to prepare a comprehensive plan, in consultation with Planning Commission, , Ministry of Power, NTDC, distribution companies provincial Governments for provision of electricity to the zones. In the first quarter of financial year 2019-2020, PKR 500 million will be allocated to provide electricity transmission to Bin Qasim on priority.
The meeting was attended by Secretaries from Ministry of Industries and Production and Board of Investment and senior officials from BOI, Power Division, Planning Commission, National Industrial Parks Company (NIP) and Ministry of Petroleum. The Advisor stated that the current regime is addressing the issues of the SEZ on priority so that industrial relocation from China is facilitated in SEZs.NT