Rashakai Zone to be operational next month

PESHAWAR: Chief Executive Officer (CEO) of Khyber Pakhtunkhwa Economic Zones Development and Management Company (KPEZDMC), Javed Iqbal Khattak, has said that 98 percent of the work on the infrastructure development in Rashakai Special Economic Zone has been completed and the facility would become operational next month.

Talking to reporters here on Sunday, he said that spread over 1,000 acres of area, the Rashakai zone is a flagship project of the KP government under the industrial cooperation of China Pakistan Economic Corridor (CPEC) framework. It serves as CPEC Special Economic Zone and is one of the four prioritized special economic zones.

The KPEZDMC chief said power transmission and transformation are crucial parts of the project, which are nearing completion.

He said export-oriented industrial units would be set up there as per the special focus of the project.

Besides the investment of US $ 400 million, the KPEZDMC expects the generation of 250,000 to 300,000 direct and indirect employment, he said, adding that 80 percent of the labour force in the zone would be local, particularly natives to the area.

Regarding investment in the project, Javed Iqbal Khattak said so far 18 Pakistani and Chinese companies have agreed on making joint ventures in it.

He hoped the project would not only play a crucial role in the economic growth of KP but also strengthen the national economy, adding a large number of investors have started construction work on industrial units.

The KPEZDMC chief said the company is giving priority to the establishment of export-oriented manufacturing units in the zone to create alternatives to imports.

He said the foreign investment in the zone will not only pave the way for the transfer of modern technology to KP but also bring expertise and other good practices to Pakistan.

Javed Iqbal Khattak said trainers and master trainers arriving here along with these modern machinery will prove beneficial for our coming generations.