The four Industrial Zones i.e Special Economic Zones (SEZs) currently under development will soon create up to 1.47 million jobs and, in addition, will play an important role in supporting local industries to lead the country to sustainable economic growth.
Special economic zones, including Rashakai M-1 SEZ, Nowshera SEZ; Dhabiji Thatta SEZ, and Bostan Baluchistan will provide approximately 475,000 direct jobs and 1,000,000 indirect jobs nationwide.
In an interview with APP, the official said that these special economic zones are included in China-Pakistan Economic Corridor (CPEC), will support the country’s overall industrial growth, adding that the development of these four zones is a top priority for the government.
“Rashkai Special Economic Zone with an area of 1000 acres has already attracted more than 2,000 local and foreign investments in various sectors of the economy,” he said, adding that the territory will develop in three stages, and it is planned that this will be the first phase. Around 355 acres in first phase, 247 acres of land, at the second stage and 399 acres at the third stage.
Likewise, the federal government will provide the region with 210 MW of electricity in three phases, while providing the region with Rs 1,203 million for gas.
SEZ Rashakai is connected with all provinces of Pakistan through airports, dry ports, railway stations, highways and highways. The district is located at the confluence of five main districts: KPK, Nowshera, Mardan, Swabi, Charsadda and Peshawar.
The area will provide employment opportunities of up to 80 percent, while the area has fertile land suitable for growing a variety of cash crops and vegetables. The Special Economic Zone will cover over 400 industries, including clothing, textiles, household appliances, general goods, electronics, electrical appliances, automobiles and mechanical devices.
Meanwhile, Abdul Razzak Dawood, a trade and investment consultant, told APP about the movement of industries from China to Pakistan, saying, “We look forward to welcoming Chinese industry in our economic zones in a joint venture (JV) with local investors and sharing experiences. For the benefit of local industry. “
“Special economic zones are primarily focused on manufacturing, which leads to export promotion, import substitution, technology transfer and job creation, which are also the main goals of our government,” he said.
He said: “The creation of special economic zones has been critical to addressing balance of payments problems as we tend to favor companies that are involved in export creation or import substitution.”
The official said that the Rashakai Special Economic Zone is a major project of the Sino-Pakistani Economic Corridor and that its success will strengthen industrial cooperation between Pakistan and China.
He said that the development of the Rashakai special economic zone was of great strategic importance, as it brought closer the resource-rich Central Asian republics (CAR), and also played a role in the economic integration of the region.
Answering another question regarding the most important sector for future investment in Pakistan, he said that the increase in the value of textiles, information technology, logistics, tourism and housing are the main sectors in which the government wants to attract foreign investment.
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