PESHAWAR
\nKhyber Pakhtunkhwa Economic Zones Development and Management Company (KP-EZDMC), a public sector company of the KP government has taken lead by completing the first phase of the China Pakistan Economic Corridor (CPEC) flag-bearer Rashakai Special Economic Zone, at District Nowshera.
\nTalking to APP, the Chief Executive Officer (CEO) Javed Iqbal Khattak said that the completion of the first phase of the Rashakai Special Economic Zone comprising three phases covering an area of 247 acres was due in December 2023, but due to better team work and coordination with China Road and Bridge Company (CRBC) it has been completed six months prior of its specified time period.
\nRashakai Special Economic Zone is first completed project initiated under China Pakistan Economic Corridor (CPEC) in Pakistan. This marvelous performance shown by a public sector company of the Khyber Pakhtunkhwa has given an edge to the province over other provinces of the country.
\nSo far, an investment to the tone of Rs.85 billion has already been made in the zone and besides, Chinese several domestic big industrial groups are also investing in it.
\nThe investors are going to set up units for manufacturing APIs (Active Pharmaceutical Ingredients) a raw material for the pharmaceutical industrial units while another investor has also shown interest in establishing a vaccine manufacturing unit in the zone while Pakistan Oxygen, a largest oxygen manufacturing unit has already invested in the zone.
\nThe current innovative management of company has initiated construction work on 9 new economic zones including two special economic zones of Hattar and Rashakai. 90 percent infrastructure development work at Hattar Special Economic Zone has been completed and now colonization is also in progress in the facility.
\nDuring the current management, the total assets of the company by the end of the year 2022 have increased to Rs.15.8 billion as compared to Rs.13 billion in 2021.
\nThe company has posted a surplus of Rs. 29 million (Rs 35 million in 2021) with total income of Rs.1025 million in 2022 (Rs 926.5 million in 2021).
\nThe Board of Directors (BoD) has appreciated the financial performance of the company for the period ending June 30, 2022. The company\u2019s income and the total assets have also shown a steady increase over the past year, which is a testament to the company\u2019s strong management and commitment to excellence.
\nDuring 2022, the company has generated funds around Rs 3.1 billion in including Rs 541 million received in shape of the annual development programme (ADP). It has also launched new zones including Special Economic Zone D.I. Khan and Chitral Economic Zones last year.
\n The company has also contributed Rs.93 million to the government treasury in the form of duties and taxes during the year. It has now obtained Pakistan Centre for Philanthropy (PCP) Certification inevitable for NPO status under Income Tax Ordinance, 2001.
\nDuring the current financial year, the company is going to launch two sector specific projects including Buner Marble City and Salt & Gypsum City, Karak to make value addition to the mineral sector products of the province.
\nOn completion only the Rashakai Special Economic Zone will generate over 2,50000 direct and indirect employment opportunities for the local population while other ongoing projects will also create over nearly the same number of employment opportunities for industrial workers and the change the socio-economic conditions of the people of the province.<\/p>\n","protected":false},"excerpt":{"rendered":"
PESHAWAR Khyber Pakhtunkhwa Economic Zones Development and Management Company (KP-EZDMC), a public sector company of the KP government has taken lead by completing the first phase of the China Pakistan Economic Corridor (CPEC) flag-bearer Rashakai Special Economic Zone, at District Nowshera. Talking to APP, the Chief Executive Officer (CEO) Javed Iqbal Khattak said that the […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-343574","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-business"},"yoast_head":"\n