Special Economic Zones Act, 2012 (No. XX).

This Act, consisting of 40 sections, provides for setting up and operation of Special Economic Zone (SEZ) in Pakistan as geographically defined and delimited areas which have been approved and notified by the Board of Approval (BOA). The Federal Government and Provincial Governments establish special economic zones by themselves or in collaboration with private parties under various modes of collaboration including public/private partnership or exclusively through the private parties as provided under this Act. It establishes composition and duties of the BOA, entitled to: a) approve regulations for the implementation of this Act; b) approve or reject zone applications or development agreements; d) examine and decide upon policy issues submitted to it by SEZ Authorities or by developers; e) co-opt on the members of the Approvals Committee as necessary; f) notify with approval of relevant authorities additional benefits under subsection 2) of section 34; g) cancel development agreement; h) review and direct actions on annual reports submitted by SEZ authorities; i) annually review the implementation of this Act with a view to improving policies relating to SEZs; etc.