PESHAWAR
Chief Executive Officer (CEO) Khyber Pakhtunkhwa Economic Zones Development & Management Company (KP-EZDMC), Javed Iqbal Khattak has said that 98% work on infrastructure development in Rashakai prioritized Special Economic Zone (RpSEZ) has been completed and will become operational during next month (March).
Talking to APP here on Sunday, he said that spread over an area of 1000 acres, Rashakai prioritized Special Economic Zone (PSEZ) is a flagship project of the government of Khyber Pakhtunkhwa under the industrial cooperation of China Pakistan Economic Corridor (CPEC) framework that serves as CPEC Special Economic Zone.
It is one out of the four prioritized special economic zones, it would become the first special economic zone that would become operational next month.
He said that power transmission and transformation were crucial parts of the project, which are near completion. He said that special focus in this project is made to set up export-oriented industrial units in it. He said that besides investment of US $ 400 million they are also expecting generation of 250,000 to 300,000 direct and indirect employment. He said that 80% of the labour force in the zone would be local, particularly for the 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. He said that the project will not only play a crucial role in the economic growth of Khyber Pakhtunkhwa, but also in the national economy. He said 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 will not only pave way for the transfer of modern technology to Khyber Pakhtunkhwa, rather will also bring in expertise and other good practices to Pakistan. He added that trainers and master trainers arrive along with these modern machineries will also prove beneficial for our coming generations.
Rashakai prioritized Special Economic Zone is a flag-ship project initiated under China Pakistan Economic Corridor (CPEC) and is jointly framed by Chinese and Pakistanis companies.
