IMF pressure halts new EPZ plan

The government on Wednesday withdrew a proposal to establish a new Export Processing Zone (EPZ) in Balochistan, complying with a condition set by the International Monetary Fund (IMF), highlighting the global lender's growing influence over the country's economic decision-making. The Ministry of Industry and Production had initially pushed for the creation of the EPZ to promote copper exports from Siah Diq, Balochistan. However, the Ministry of Finance opposed the plan during a meeting of the Economic Coordination Committee (ECC), leading to its withdrawal. The ECC meeting was chaired by Finance Minister Senator Muhammad Aurangzeb. In the same meeting, the ECC approved an additional Rs1 billion in funds for hosting the heads of government from the Shanghai Cooperation Organisation (SCO) in Islamabad on October 15-16.