Peshawar(PR):Merger and transfer of the assets of Khyber Pakhtunkhwa Development Authority (KPDA), to Khyber Pakhtunkhwa Economic Zones Development & Management Company, KPEZDMC
‘’KP taking over Industrial Estate or Economic Zones Bill 2016’’ has been approved by the Provincial Assembly, Khyber Pakhtunkhwa in accordance with law resulting in the merger and transfer of the assets of Khyber Pakhtunkhwa Development Authority (KPDA), to Khyber Pakhtunkhwa Economic Zones Development & Management Company, KPEZDMC.
All the assets of Khyber Pakhtunkhwa Development Authority, KPDA including the all industrial estates, industrial plants & machinery, permissions, trademarks and all the tangible and intangible assets are transferred to the Company. KPEZDMC is now responsible for the administration of the existing industrial estates and also the development of new industrial areas.
The employees of KPDA stand transferred to the Company provided that the company shall give option to the employees either to continue to serve the company on their existing terms and conditions as specified in the Khyber Pakhtunkhwa Development Authority Rules, 2015, made under the repeated Act, or to continue to serve the company on terms and conditions given by the company including the option of ‘golden hand shake’.
KPEZDMC is a wholly owned by the Government of Khyber Pakhtunkhwa and is registered under the section 42 of the companies’ ordinance, 1984 formed to promote and expedite the industrialization leading to mass job creation and economic stability of KP.
The Company plans to develop 17 new economic zones in next few years, Hattar Special Economic Zone already completed the allotment phase and in initial stages of development.
Mohsin Syed, CEO, KPEZDMC said that the Company’s core objective is to develop state of the art industrial estates throughout KP and provision of incentives offered in the KP Industrial Policy 2015 while contributing to the job creation and economic stability in the province.
One window operations specially designed by KPEZDMC will facilitate the industrial owners by solving all the issues related to getting an NOC, providing uninterrupted power supply, relevant trainings, and availability of all amenities.
