Caretaker Finance Minister Dr. Shamshad Akhtar has underscored the need to prioritize investment facilitation over reliance on tax exemptions for economic prosperity. Dr. Shamshad Akhtar chaired a meeting of the Special Technology Zone and Special Economic Zone Committee, which reviewed progress on facilities and incentives within these zones.
The meeting included Minister IT Dr. Umar Saif, Advisor to the Prime Minister Ahad Cheema, Senator Rafnanullah, Secretary Finance, Secretary Law, Chairman FBR, Chairman STZ, Chairman CDA, and senior officials from the Ministry of Finance and FBR. Discussions during the meeting covered the comparative model of Special Technology Zones and updates on existing Special Technology Zones and Special Economic Zones, along with the challenges they face.
Participants engaged in a comprehensive discussion on optimizing the facilities and incentives in these zones to align them with contemporary technology needs. It was noted that there are eight announced Special Technology Zones, with five currently operational. Strategies and policies for fostering innovation, economic growth, and technological advancement in these zones, as well as attracting domestic and international investment, were also reviewed.
Highlighting the significance of Special Technology Zones and Special Economic Zones for national economic development, Finance Minister Shamshad Akhtar emphasized the government’s commitment to transform Pakistan into a hub for technological development and economic prosperity. He stressed the shift from tax dependence to facilitating business and investment.
The Finance Minister expressed optimism that discussions and recommendations would enhance the effectiveness and vitality of these zones. Dr. Shamshad Akhtar reiterated the caretaker government’s vision to position Pakistan as a technology and economic hub, with a focus on creating a business-friendly environment within the Special Technology Zones and Special Economic Zones.
