PESHAWAR: Chief Executive Officer (CEO) of Khyber Pakhtunkhwa Economic Zones Development & Management Company (KP-EZDMC), Javed Iqbal Khattak has said that 98% of work on infrastructure development in Rashakai prioritized Special Economic Zone (pSEZ) has been completed and will become operational in March 2023.
Talking to media, he said that spread over an area of 1000 acres, pSEZ is a flagship project of the KP government under the industrial cooperation of China Pakistan Economic Corridor (CPEC) framework that serves as CPEC Special Economic Zone.
It is one of the four prioritized SEZs that would be the first SEZ to become operational next month.
He said that power transmission and transformation were crucial parts of the project, which are near completion. He said that a special focus of this project is to set up export-oriented industrial units in it. Besides the investment of US $ 400 million, they are also expecting the generation of 250,000 to 300,000 direct and indirect employment, he said, adding that 80% of the labour force in the zone would be local, particularly natives of the area.
Regarding investment in the project, the CEO KP-EZDMC said that so far 18 Pakistani and Chinese companies have agreed on making joint ventures in it. The project not only will play a crucial role in the economic growth of KP, but also in strengthening the national economy, he said and added that a large number of investors have started construction work on their industrial units.
He said that the company is giving priority to the establishment of export-oriented manufacturing units in the zone to create alternates to imports.
He said that the foreign investment in the zone not only will pave way for the transfer of modern technology to KP, but also bring in expertise and other good practices to Pakistan. “Trainers and master trainers arrive along with these modern machineries will also prove beneficial for our coming generations.”
