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Rashakai SEZ under CPEC a flagship to kick off industrialization

  • June 5, 2019
Rashakai SEZ under CPEC a flagship to kick off industrialization
Image caption Rashakai SEZ under CPEC a flagship to kick off industrialization

PESHAWAR: The Khyber Pakhtunkhwa is planning to bring about what it says an industrial revolution and the Rashakai Special Economic Zone (SEZ) will prove a milestone and the flagship project to kick off industrialisation in the province under the China-Pakistan Economic Corridor (CPEC).

Special Assistant to the chief minister on the Industries and Commerce Abdul Karim Khan said that the Chinese companies were keen on sharing this industrial revolution in the province.

He said that the China Road and Bridge Corporation (RBC) was going to develop 1000 acres of land as SEZ at Rashakai, while other Chinese groups were also taking a keen interest in investing here.

“One of these groups is investing $200 million in Nowshera district and we invited another group to invest in reviving a sick unit in the district,” he added.

Located on M1-Motorway near Rashakai Interchange and linked to CPEC through Burhan Interchange on M1 and Swat Express Way (CPEC route) on Karnal Sher Khan interchange connecting Dir, Chitral and Shandur to Rashakai, the SEZ is spread over an area of about 1,000 acres which will house pharmaceutical, textile, food and beverages, steel and various other engineering related industries, he added.

The CRBC is going to build infrastructure for the Rashakai SEZ and with the investment about $130 million from both the internal and external sources under CPEC initiatives, the project would provide 200,000 direct and indirect jobs in the province.

Quoting a document of the Khyber Pakhtunkhwa Economic Development (KPEZDMC), he said 1200 applications had been received for plots and a committee has also been constituted to finalise the procedure for allotment of plots.

He said it was collective and teamwork that made the initiation of such huge project possible. The Board of Investment and Trade (BOIT), KPEZDMC and Industries Department were making hectic efforts to turn the project into a reality, he added.

It (SEZ) is the outcome of the consistent efforts of the provincial government that organized the Road Shows in Dubai, Karachi and China to showcase the potential of the province that has ultimately led to the setting up of the extensions in Hattar, Gadoon and other industrial estates and some other mega projects in the province.

The special assistant to the chief mister further informed that work on 40, 000 barrel capacity refinery has been going on in full swing. “The refinery is being built by Sheikh Zafar Group which was invited to invest in the province during the Dubai Road Show,” he added.

The provincial government is resolving issues to ensure ease-of-doing business so that investors could be facilitated in an appropriated manner to invest in potential sectors in the province.

Finance Secretary Shakeel Qadir Khan told this scribe that the government was mindful of the fact that a vibrant industrial sector was imperative for economic growth and employment generation and it is focusing on the sector in its budgetary plan accordingly.

“Revitalisation of the Industrial sector, thus, is an important agenda and provision of enabling and facilitative business environment and infrastructure coupled with the provision of technically qualified and skilled manpower is the hallmark of the revitalisation strategy of the government. The industrialization has gained more importance or uplift of the province the KPEZDMC has been formed with an aim to focus on modernising the long-neglected industrial sector, as well as the development of the same as a prime zone for employment opportunities,” Finance Secretary added. The industrialists, including the Sarhad Chamber of Commerce president, Faiz Muhammad Faizi and investors both local and international have praised the incentives offered under Industrial Policy 2016 that envisages a number of invectives for them.

The government has already completed formalities to provide electricity produced locally to the local industries on wheeling charges that would provide a new boost up the process of industrialisation, Faizi added.

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